Target Exam

CUET

Subject

Economics

Chapter

Micro Economics: Introduction

Question:

Any allocation of resources by the society would result in the ....... of a particular combination of different goods and services.

Options:

Consumption

Production

Exchange

Demand and supply

Correct Answer:

Production

Explanation:

The correct answer is Option (2) → Production

  • Allocation of resources means deciding how a society’s limited resources (land, labour, capital, and entrepreneurship) are used to produce various goods and services.

  • When resources are allocated, they determine what goods and services will be produced and in what quantities — i.e., the production of a particular combination of goods and services.