Question : What to produce is the problem related to ___________.
Option 1: Problem of allocation of resources
Option 2: Problem of selection of technology
Option 3: Problem of distribution of income
Option 4: All of the above
Correct Answer: Problem of allocation of resources
Solution : What to produce involves selection of goods and services to be produced and the quantity to be produced of each selected commodity. This problem is also known as the problem of allocation of resources. Hence the correct option is 1.
Question : The fundamental or central economic problem of every society is
Question : Which of the following central problems of an economy deals with the distribution of income?
Question : Which economic problem involves the theory of distribution
Question : Following are the central problems of an economy:
Question : Basic problem of the economy is
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