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What is meant by problem of …

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What is meant by problem of allocation of resources?

Posted by Rashi Padole 6 years, 3 months ago

CBSE > Class 11 > Economics

1 answers

Sia ? 6 years, 3 months ago

Allocation of resources means allocating the scarce resources in such a way that maximum wants of the society are fulfilled. The following are related to the problem of allocating resources.
(a) what to produce and in what quantity?
(b) How to produce?

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