Micro

Introduction

Easy

Which central problem deals with choice of technology to be used for production ?

What do produce and in what quantity ?

How to produce ?

For whom to produce ?

Where to produce ?

✅ Correct Option: 2

The central problem of "How to produce?" deals with the choice of technique or technology to be used for production. It involves deciding between labour-intensive and capital-intensive methods. "What to produce" deals with the choice of goods. "For whom to produce" deals with distribution.

2025: 28 May Shift 2

An economy has to choose one of the many possibilities that it has at given resources. Therefore, the cost that an additional unit of X commodity in terms of the amount of the Y commodity that has to be forgone is called ................ cost.

2025: 14 May Shift 1

Any allocation of resources by the society would result in the _____ of a particular combination of different goods and services.

2025: 14 May Shift 1

The allocation of scarce resources and the distribution of the final goods and services are the _____ of any economy.

States problems
Consumption problems
Central problems
Production problems

2026: 21 May Shift 1

An economy in which both the private and the public sector coexist is known as a ....................

2026: 31 May Shift 1

Match the LIST-I with LIST-II

LIST-I		LIST-II
A. Public Good	I.	Excludable and Rivalary
B. Private Good	II.	Beneficial and detrimental effects of one economic unit upon other
C. Externality	III.	Non-excludable and Non-rivalary
D. Mixed economy	IV.	Co-existence of public sector and private sector

Choose the correct answer from the options given below:

2023: 30 May Shift 1

__________ gives rise to the problem of choice.

Which central problem deals with choice of technology to be used for production ?

Solution

Related questions:

Keyboard Shortcuts

CUET Economics Past Year Questions (Topic-Wise)