Question

explain the central problem of "choice of technique"and "distribution of income"?

Answer 1

The central problem of '' choice of technique '' or how to produce  and ''distribution  of income'' and to whom to produce.

Choice of technique we have how much to produce and what to produce, The first problem to economy is usually related to problem of choice. What to produce or which goods and services  to produce so that maximum wants and needs of people could be satisfied with the limited resources , Every economy has to chose  which want to satisfy and which one to sacrifice or even postponed or left.

When economy decides what to produce the next problem arise how much to produce ?The quantity of consumption goods and capital goods should be produced.  Producer would like to produces goods and services which maximize his profit.

Then the next problem is how to produce it is the problem related to choice of technique, There are two types of techniques Labor intensive technique where by more labor is used than capital.  Capital intensive technique where by more capital is used than labor force. In the production from both the techniques is the same then the technique using the less quantity of limited resources will be called more efficient technique.

Answer 2

Answer:

Explanation:

The central problem of '' choice of technique '' or how to produce  and ''distribution  of income'' and to whom to produce.

Choice of technique we have how much to produce and what to produce, The first problem to economy is usually related to problem of choice. What to produce or which goods and services  to produce so that maximum wants and needs of people could be satisfied with the limited resources , Every economy has to chose  which want to satisfy and which one to sacrifice or even postponed or left.

When economy decides what to produce the next problem arise how much to produce ?The quantity of consumption goods and capital goods should be produced.  Producer would like to produces goods and services which maximize his profit.

Then the next problem is how to produce it is the problem related to choice of technique, There are two types of techniques Labor intensive technique where by more labor is used than capital.  Capital intensive technique where by more capital is used than labor force. In the production from both the techniques is the same then the technique using the less quantity of limited resources will be called more efficient technique.

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