Practicing Success
Practicing Success
CUET Preparation Today
The problem of 'what to produce' in an economy is related with_________________. |
The quantities of the many possible goods and services that an economy will produce The technology to be used for the production of the goods and services in an economy The distribution of the goods and services produced in an economy The research and development of efficient technology for the production of goods and services in an economy |
The quantities of the many possible goods and services that an economy will produce |
The correct answer is option (1) : The quantities of the many possible goods and services that an economy will produce Explanation : The problem of "what to produce" is primarily concerned with deciding the mix and quantity of goods and services that an economy should produce to meet the needs and wants of its population. This decision involves considerations of consumer preferences, resource availability, and societal priorities. It is a fundamental aspect of economic planning and allocation of resources. |
