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
Option 1: What to produce
Option 2: How to produce
Option 3: For whom to produce
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
Question : Which economic problem involves the theory of distribution
Option 2: For whom to produce
Option 3: How to produce
Option 4: None
Question : Following are the central problems of an economy:
Question : Basic problem of the economy is
Option 1: scarcity of resources
Option 2: curb inflation
Option 3: reduce unemployment
Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile