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how to solve themjrd gtt y
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Basic Central Problems Of An Economy:
1) what to produce.
it is problem of selection of society ( Luxurious or Comfort or Necessity items )
2) How to produce
choice of technic of production ( capital or labour intensive technic)
3) For whom to produce..
It is distribution of income among factors of production.
people having purchasing power depends upon distribution of income among factors of production like - rent, wages, interest and profit.
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