Central problems

Basically there are three Central problems in an economy they are: what to produce how to produce and for whom to produce basically first we will discuss the problem of what to produce what to produce problem has 2 dimensions that is what goods aathvi produced and in what quantity they are to be produced for what goods are to be produced they can you be silly two types of food which can be the consumer goods for capital goods consumer goods help in getting the living standards the present generation but the future of can be ignored where as in capital goods the future growth is promoted but that living standards of present generation affect adversely does it is a problem of choice between future growth of present living standards the problem of how to produce is the basically the problem of choice of technology that Technology can be used to two types it can be labour intensive or capital intensive Lebanon 2016 is not efficient but promotes employment but capital intensive technique is very efficient and promote GDP does it is a choice between reducing the problem of unemployment and GDP growth and the problem of for whom to produce is basically the problem between choosing the sections of society whether you want to promote the economic equality of you want to have more profits because if you produce the good for the poor sections of the society the profit will be less than twice the investment would you please turn wise GDP will be less but it if it is produced for the richest sections they will more profit more investment and more GDP does it is a problem of choice between economic equality or GDP growth

What to produce, How to produce and for whom to produce