Explain the central problem of “for whom to produce”.

ANSWER:  The problem for whom to produce refers to selection of category of people who ultimately consume the goods i.e, whether to produce for richer sections or poorer sections of society as resources are scarce  in relation to human wants. Thus, problem of choice fo whom to produce occurs. This problem is also concerned with distribution of income among factors of production (land,labour,capital and enterprise) who contribute in production process. Further this can be categorised as personal and functional distribution.

We will be happy to hear your thoughts

Leave a reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

  • Partner links