Question : Following are the central problems of an economy:
Option 1: What to produce
Option 2: How to produce
Option 3: For whom to produce
Option 4: All of the above
Correct Answer: All of the above
Solution : Following are the central problems of an economy: (a) What to produce (b) How to produce (c) For whom to produce Hence, the correct option is 4.
Question : Which of the following central problems of an economy deals with the distribution of income?
Question : The fundamental or central economic problem of every society is
Question : In a free-enterprise economy, the question of what, how and for whom to produce are solved by
Question : Which economic problem involves the theory of distribution
Question : Assertion (A): Central problems of an economy are called central problems. Reason (R): It is because these are the most basic problems of an economy and all other problems revolve around them.
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