Question

explan how to produce​

Answer 1

Answer:

In nutshell, an economy has to allocate its resources and choose from different potential bundles of goods (What to produce), select from different techniques of production (How to produce), and decide in the end, who will consume the goods (For whom to produce).The problem for whom to produce refers to selection of the category of people who will ultimately consume the goods. Since resources are scarce in every economy, no society can satisfy all the wants of its people. Thus, a problem of choice arises.For whom to produce is one of the central problems of any economy and refers to the problem of how to distribute the produced goods and services among the individuals within the economy.Factors of Production

Land/Natural Resources.

Labor.

Capital.

Entrepreneurship

Explanation:

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