Question on: SS1 Economics - Basic Economic Problems of Society
The problem of deciding on the best way to produce goods and services is known as:
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A
What to produce
B
How to produce
C
For whom to produce
D
The efficiency of resource use
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Correct Option: B
The question is asking about the method of production. The "how to produce" question deals directly with the methods and techniques used in the production process, focusing on resource allocation, technology, and production efficiency. The other options relate to different fundamental economic questions:
- A. What to produce: Deals with the allocation of resources to produce specific goods and services.
- C. For whom to produce: Deals with the distribution of goods and services.
- D. The efficiency of resource use: This is a consequence of how production is organized, not the core question itself.
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