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what are the basic economic problems? Related: Learning: Scarcity and...
Вαsic єcσทσмic ρrσвℓєм____________τнє ƒυท∂αмєทταℓ єcσทσмic ρrσвℓєм is τнє issυє σƒ scαrciτy αท∂ нσω вєsτ τσ ρrσ∂υcє αท∂ ∂isτriвυτє τнєsє scαrє rєsσυrcєs.scαrciτy мєαทs τнєrє is α ƒiทiτє sυρρℓy σƒ gσσ∂s αท∂ rαω мατєriαℓs.ƒiทiτє rєsσυrcєs мєαท τнєy αrє ℓiмiτє∂ αท∂ cαท rυท συτ.υทℓiмiτє∂ ωαทτs мєαท τнατ τнєrє is ทσ єท∂ τσ τнє qυαทτiτy σƒ gσσ∂s αท∂ sєrvicєs ρєσρℓє ωσυℓ∂ ℓiкє τσ cσทsυмє.вєcαυsє σƒ υทℓiмiτє∂ ωαทτs – ρєσρℓє ωσυℓ∂ ℓiкє τσ cσทsυмє мσrє τнαท iτ is ρσssiвℓє τσ ρrσ∂υcє (scαrciτy)
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what are the basic economic problems? Related: Learning: Scarcity and...
The economic problems are how to produce goods and services and what techniques they opt it depends upon the economic growth of province and that categories the opt of capital intensive or labour intensive and that basis economy categories on capitalistic economy or socialist economy or mixed economy and what to produce and whom to produce for the people of upper middle class or for lower middle class and scarcity refers to the phenomenon in which every provincial economy are involved in fulfilling the wants of people in best and cheapest way and by optimum utilisation of resources and because want is unlimited but the resources are limited
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Read the following passage and answer the questions that follow: At the micro level, every economy faces three central problems, i.e., what to produce, how to produce and for whom to produce.What to Produce : The problem of ‘what to produce’ arises as the producers have limited resources. In an economy because of scarcity of resources, producers are unable to produce everything in bulk but they will have to make a choice as to which one is important as a whole so that limited resources can be rationally managed. Problem of ‘what to produce’ involves two-fold decisions : the kind of goods to be produced and the quantity of goods to be produced.How to Produce : It is concerned with how to organise production. This problem is related to the choice of technique of production. It arises due to the availability of various techniques for the production of a commodity such as Labour– Intensive Technique and Capital–Intensive Technique.For Whom to Produce : The problem of ‘for whom to produce’ is the problem of distribution of produced goods and services. At the micro level, the decision relates to different sets of buyers in the economy. In an economy, producers would obviously be inclined to produce more for the rich buyers to maximise their profits but, the government also intervenes to regulate the use of resources, so that enough production is done for the poorer sections of the society also.Q. The problem of ..................... is the problem of distribution of produced goods and services.

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what are the basic economic problems? Related: Learning: Scarcity and Choice Problem?
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what are the basic economic problems? Related: Learning: Scarcity and Choice Problem? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about what are the basic economic problems? Related: Learning: Scarcity and Choice Problem? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for what are the basic economic problems? Related: Learning: Scarcity and Choice Problem?.
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