Question

Which is not a central problem of an economy?

विकल्प

• What to produce

• How to produce

• When to produce

• For whom to produce

Answer 1

When to produce

Explanation:

The three central problems of an economy are:

1. What to produce?, deciding which goods and services should be produced with scarce resources.
2. How to produce?, deciding the technique or method of production to be used.
3. For whom to produce?, deciding how the output will be distributed among the members of society.

“When to produce” is not considered a central economic problem because timing is generally not one of the fundamental choices an economy has to make regarding resource allocation and production. The key issues are related to what goods to produce, how to produce them efficiently and for whom to produce them, reflecting decisions constrained by scarcity and alternative uses of resources.