Describe the problem of choices of technique
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Answer:Central problem of choice of technique refers to the problem of how to produce. Every society has to decide on how much of which of the resources to use in the production of each of the different goods and services. Whether to use more labour or more machines.
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- The central problem of 'choice of technique' relates to the question for "How to produce?" which is faced by the economy where the economy consider either labour intensive techniques or capital intensive techniques for the production of goods and services in the economy depending upon the available resources in the economy.
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