Question

Following are the three important basic questions associated with every economic activity.

1. What to produce and how much to produce?

2. How to produce?

3. For whom to produce?

Answer to these questions decide the relevance of economic activities . Complete the

table based on the findings related to the basic economic problems of an economy​

Answer 1

the Central problem of how to produce deals with production technique to employ in the production of the decided good ans services that is whether to employ labour intestive technique or to employ capital intestive technique of production