Practicing Success
What is the other name of the central problem of economy -"For whom to produce"? |
Problem of distribution Problem of allocation of resources Problem of quantities of production Problem of choice of technique |
Problem of distribution |
The correct answer is option (1) : Problem of distribution The reason ''For whom to produce?" is referred to as the "Problem of distribution" is rooted in the fundamental question of how the output or wealth generated by an economy is allocated among the individuals or groups within that society. This aspect of the central economic problem focuses on the fair and equitable distribution of goods and services among the members of the society. It involves addressing questions such as how income, resource, and opportunities are distributed among different individuals or social classes.In a broader sense, the "Problem of distribution" is about determining the principles and mechanisms through which the benefits and burdens of economic activities are shared among people. This encompasses issues of income inequality, social justice, and the overall well-being of the population. |