Question

7. Which of these economic problem
deals with technique of production?
O (a) What to produce
O (b) How to produce
O (c) For whom to produce
0 (d) None of these

Answer 1

Answer:

The economic problem of how to produce deals with the technique of production as we have two techniques for production:

Labour intesive(more of labour, less of capital)

Capital intensive(Less of labour, more of capital)

Explanation:

Hope it helps you...

Answer 2

How to produce is the economic problem that deals with the technique of production. (Option b)

• When understanding the economic problems, it is essential to understand what each problem states.
• The problem of how to produce a good in an economy focuses on the methods and techniques of producing goods.
• The goods can be handmade or manufactured by machines, the choice of materials, location, etc. all constitute this problem.
• So, all the other options are irrelevant.