Explain the central problem of what …
CBSE, JEE, NEET, CUET
Question Bank, Mock Tests, Exam Papers
NCERT Solutions, Sample Papers, Notes, Videos
Posted by Manya Rohela 6 years, 4 months ago
- 1 answers
Test
Related Questions
Posted by Mahi Bansal 1 year, 4 months ago
- 0 answers
Posted by Vivek Saroj 1 year, 4 months ago
- 0 answers
Posted by Shiv Narayan Kumar 1 year, 4 months ago
- 1 answers
Posted by Charvi Charvi 1 year, 4 months ago
- 0 answers
myCBSEguide
Trusted by 1 Crore+ Students
Test Generator
Create papers online. It's FREE.
CUET Mock Tests
75,000+ questions to practice only on myCBSEguide app
Sia ? 6 years, 4 months ago
An economy has millions of commodities to produce. It has to decide which goods and services to be produced and that should be in sufficient quantity, as all the goods cannot be produced due to scarcity of resources, e.g. an economy has to decide whether to produce luxury goods or inferior goods, capital goods or consumer goods.
This problem has two dimensions:
(i)Types of goods to be produced.
(ii)Quantity of goods to be produced.
1Thank You