Question

Discus the problem of what and how to product?​

Answer 1

ᴛʜᴇ ᴄᴇɴᴛʀᴀʟ ᴘʀᴏʙʟᴇᴍ ᴏғ 'ʜᴏᴡ ᴛᴏ ᴘʀᴏᴅᴜᴄᴇ' ᴅᴇᴀʟs ᴡɪᴛʜ ᴡʜɪᴄʜ ᴘʀᴏᴅᴜᴄᴛɪᴏɴ ᴛᴇᴄʜɴɪǫᴜᴇ ᴛᴏ ᴇᴍᴘʟᴏʏ ɪɴ ᴛʜᴇ ᴘʀᴏᴅᴜᴄᴛɪᴏɴ ᴏғ ᴛʜᴇ ᴅᴇᴄɪᴅᴇᴅ ɢᴏᴏᴅs ᴀɴᴅ sᴇʀᴠɪᴄᴇs. ᴛʜᴀᴛ ɪs, ᴡʜᴇᴛʜᴇʀ ᴛᴏ ᴇᴍᴘʟᴏʏ ʟᴀʙᴏᴜʀ ɪɴᴛᴇɴsɪᴠᴇ ᴛᴇᴄʜɴɪǫᴜᴇ ᴏʀ ᴛᴏ ᴇᴍᴘʟᴏʏ ᴄᴀᴘɪᴛᴀʟ ɪɴᴛᴇɴsɪᴠᴇ ᴛᴇᴄʜɴɪǫᴜᴇ ᴏғ ᴘʀᴏᴅᴜᴄᴛɪᴏɴ.

Answer 2

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The central problem of "what to produce?" which is faced by the economy where the economy decides the goods that needs to be produce in the economy wether consumer or capital goods to satisfy human wants keeping in mind the available resources and state of technology in the economy.