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Discuss the problem of an economy

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Discuss the problem of an economy

Posted by Enu Reema Konjengbam 1 year, 11 months ago

CBSE > Class 12 > Economics

2 answers

Preeti Dabral 1 year, 11 months ago

Central problems of an economy are. What to produce, How to produce, and For whom to produce. 'What to produce' relates to the problem of choice of goods and services to be produced and the quantity to be produced. 'How to produce' relates to the choice of technique of production. It involves a choice between labour-intensive technique and capital - intensive technique. 'For whom to produce' relates to the distribution of goods and services across different sections of society. It focuses on the issue of Economic Equality.

2Thank You

Saini.Satwinder Saini Satwinder 1 year, 11 months ago

Less facility of modernization.

1Thank You

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