Which of these is NOT a basic economic problem of society?
A. efficiency of resource use B. for whom to produces C. how to produce D. scale of production E. what to produce
Correct Answer: D
Explanation
Scarcity, or limited resources, is one of the most basic economic problems we face. We run into scarcity because while resources are limited, we are a society with unlimited wants. The problem of - what to produce - how to produce and for - whom to produce are the basic economic problems of a society. - Efficiency of resources used Scale of production is a secondary production function.
