Question

name any two central problems of an economy

Answer 1

There are three central problems in an economy:
1. How to produce
2. What to produce
3. For whom to produce

Answer 2

Production, distribution and disposition of goods and services are the basic economic activities of life. In the course of these activities, every society has to face scarcity of resources. Because of this scarcity, every society has to decide how to allocate the scarce resources.
1. What to produce?

2. How to produce?

ADVERTISEMENTS:

3. For whom to produce?

These problems are called central problems because these are the most basic problems of an economy and all other problems revolve around them.

These 3 problems are studied under the problem of ‘Allocation of Resources’.

HOPE THIS WILL HELP U
♥️ PLEASE MARK AS BRAINLIST ♥️