Question : Which of the following central problems of an economy deals with the distribution of income?
Option 1: What to produce?
Option 2: How to produce?
Option 3: For whom to produce?
Option 4: None of the above
Correct Answer: For whom to produce?
Solution : 'For whom to produce ' means how should the goods and services produced be allocated among people. Goods and services are purchased by those who have incomes that are earned in the process of production. Therefore, the problem amounts to a distribution of income among people.
Hence, the correct option is 3.
Question : Following are the central problems of an economy:
Question : Which economic problem involves the theory of distribution
Question : The fundamental or central economic problem of every society is
Question : Which of the following deals with the process of simplification of import - export?
Question : In a free-enterprise economy, the question of what, how and for whom to produce are solved by
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