Question

discuss the central problem of economic​

Answer 1

Answer:

Central problems of economic are How to produce, For whom to produce and what to produce

Answer 2

Answer:

The three basic economic problems are regarding the allocation of the resources. These are what to produce, how to produce, and for whom to produce.

The central problems of an economy is the production of goods and services, its distribution and indisposition/sales. these problems arise mainly due to unavailability/scarcity of resources which affects all the above systems.

Goods and services that satisfy human wants are produced with the help of resources such as land, labour, capital and enterprise. These resources are scarce while wants are unlimited. Due to scarcity of these resources, an economy cannot produce all that goods and services as required by its citizens.