Which central problem explains ‘who gets more and who gets less’?
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ECONOMICS
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Asked on October 15, 2019 by
Rajshree Mamdapur
Explain the central problem of "for whom to produce".
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Production, exchange and consumption of goods and services are among the basic economic activities of life. In the course of these basic economic activities, every society has to face scarcity of resources and it is the scarcity of resources that gives rise to the problem of choice.
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.
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