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:
Option 1: What to produce
Option 2: How to produce
Option 3: For whom to produce
Option 4: All 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 : The fundamental or central economic problem of every society is
Question : Which of the following deals with the process of simplification of import - export?
Option 1: Liberalisation
Option 2: Privatisation
Option 3: Globalisation
Question : It refers to distribution of working persons across primary, secondary and tertiary sectors of the economy.
Option 1: Distribution of income
Option 2: Occupational structure
Option 3: Commercialisation of agriculture
Option 4: Agrarian economy
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