Which of the following best explains what to produce?
...Which of the following best explains what to produce?
How much goods are to be produced
The combination of resources to be used
Which goods and services to be produced
How many wants are to be satisfied
Correct answer is C
The problem of What to Produce 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.
Which of the following can be described as land? ...
From the table calculate the national income ...
Price elasticity of supply can be influenced by the following factors except? ...
Under normal circumstances, the concept of consumers sovereignty implies that ...
Using Expenditure Approach to estimate National Income, Y is equal to ...
In the the longrun, a firm must shut down if its average revenue is? ...
At what point on the total product curve shown above will marginal product be negative? ...
The meaning of 'Dumping' is selling goods in a foreign market ...
Given that Y = C + 1, where C = 50 + 0.75 and 1 = N45m, what is the equilibrium level of income? ...