Question

explain any two functions of an economy​

Answer 1

1) PRODUCTION--------In economics, a production function gives the technological relation between quantities of physical inputs and quantities of output of goods. The production function is one of the key concepts of mainstream neoclassical theories, used to define marginal productand to distinguish allocative efficiency, a key focus of economics. One important purpose of the production function is to address allocative efficiency in the use of factor inputs in production and the resulting distribution of income to those factors, while abstracting away from the technological problems of achieving technical efficiency, as an engineer or professional manager might understand it.
2) DISTRIBUTION---------In economics, distribution is the way total output, income, or wealth is distributed among individuals or among the factors of production (such as labour, land, and capital). ... But, where focus is on income of persons or households, adjustments to the national accounts or other data sources are frequently used.

Answer 2

Answer:

heya..!

the 2 main function of an economy are -

i) Production

ii) Distribution

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