Question

what is the mean by central problem of an economic​

Answer 1

Answer:

There are three central problems of an economy:

1.What to produce

2. How to produce : labour intensive technique and capital intensive technique are its sub parts .

3. For whom to produce ; Either for more rich or less poor or more poor or less rich .

Answer 2

Answer:

Central problems of an economy are the problems faced by and commonto all kinds of economic systems (capitalism,socialismand mixed economy).Thease include problems with decision making about what to produce and whom to produce.