Question : It involves deciding the final combination of goods and services to be produced. Which economic problem is highlighted here?
Option 1: What to produce.
Option 2: How to produce
Option 3: For whome to produce
Option 4: None of the above.
Correct Answer: What to produce.
Solution : The problem of what to produce involves deciding the final combination of goods and services to be produced. Hence option A is correct.
Question : It involves deciding the technique of production to be used to produce goods and services?
Question : It involves selection of the category of people who will ultimately consume the goods.
Question : The technique used where more of capital are used to produce goods and services.
Question : The technique used where more of labour are used to produce goods and services.
Question : Which function of marketing is highlighted in the given statement? Statement: It involves deciding the distribution of goods and services from place of production to place of consumption.
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