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Introduction of Micro-Economics — Economics STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceEconomicsIntroduction of Micro-Economics3 Marks
Question
Explain the central problem of "What is produced and in what quantities".
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Answer

This problem deals with the situation where an economy must decide as to what goods or services it must produce and in what quantity. It is because the resources are scarce/ limited and can be put to alternative uses.

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