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What to produce how to produce whom to produce where to produce?
What to produce is one of the high economic problem
Explain what is meant by the basic economic problem?
Economic problem is the problem regarding allocation of limited resources for the production of alternative goods and services. in other words, economic problem is the 'problem of choice'. Since the resources are scarce and they have alternative uses, there arises the problem of choice regarding the use of these resources. The law of scarcity states that goods are scare because there are not enough resources to produce all goods that people want to consume. Thus, Economic Problem is the 'problem of relative scarcity' and the 'problem of choice' arising therefrom.The basic economic problems of an economy are given below:What to produce and how much to produce?How to produce?For whom to produce?Problem of fuller utilisation of resources.Problem of efficiency in utilisation of resources.Problem of economic growth.
How does the price mechanism solve the problem of what to produce of a free enterprise economy?
The forces of demand and supply regulated by price helps producers and resource owners solve the problem of what to produce
What are the three economic problem that all economies face because ofthe basic economic problem?
The basic economic problem which is Scarcity give rise to 3 fundamental problems. 1) What to produce (Type & how many) 2) How to produce (Methods of production) 3) Whom to produce for (Not for everyone will get the good) Because of limited resources.
The economizing problem of economics is..........?
That productive resources are scarce relative to economic wants.
What to produce how to produce whom to produce where to produce?
What to produce is one of the high economic problem
What are the three major microeconomics problem?
1) what to produce 2)how to produce 3)for Whome to produce
Explain what is meant by the basic economic problem?
Economic problem is the problem regarding allocation of limited resources for the production of alternative goods and services. in other words, economic problem is the 'problem of choice'. Since the resources are scarce and they have alternative uses, there arises the problem of choice regarding the use of these resources. The law of scarcity states that goods are scare because there are not enough resources to produce all goods that people want to consume. Thus, Economic Problem is the 'problem of relative scarcity' and the 'problem of choice' arising therefrom.The basic economic problems of an economy are given below:What to produce and how much to produce?How to produce?For whom to produce?Problem of fuller utilisation of resources.Problem of efficiency in utilisation of resources.Problem of economic growth.
What is the answer to this problem an ice machine can produce 17 lbs of ice in one hr?
There is no problem: simply a statement of the amount of ice an ice machine can produce in an hour!
What are the policy to curb the problem of what to produce?
Free markets.
How does the price mechanism solve the problem of what to produce of a free enterprise economy?
The forces of demand and supply regulated by price helps producers and resource owners solve the problem of what to produce
What problem would people have if they do not have phenylalanine hydroxylase?
They could not produce tyrosine slowly
What are the three economic problem that all economies face because ofthe basic economic problem?
The basic economic problem which is Scarcity give rise to 3 fundamental problems. 1) What to produce (Type & how many) 2) How to produce (Methods of production) 3) Whom to produce for (Not for everyone will get the good) Because of limited resources.
What is a problem question for a science project using chemicals in fruit to produce electricity?
What fruit or vegetable will produce the most electricity
Can a mathematician working on an impossible problem produce useful results?
true
The economizing problem of economics is..........?
That productive resources are scarce relative to economic wants.
The problem in grouping governments for study is?
choosing the characteristic that will produce the most useful groupings.
