what to produce? ( introduce your product/s)
how to produce? (ways to produce product/s
For whom to produce?( who are your target costumers?)
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Answer:
In nut shell , an economy has to allocate it's resources and choose from different potienal buddles of goods . ( what to produce ) , select from different techniques of production . ( How to produce ) , and decided in the end , who will consume the goods ( For whom to produce)..
Explanation:
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Answer:What to Produce: This problem involves selection of goods and services to be produced and the quantity to be produced of each selected commodity. Every economy has limited resources and thus, cannot produce all the goods. More of one good or service usually means less of others.
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