Question

XYZ Tutoring provides educational services for students struggling in math. Which economic question does students struggling in math answer?1. For whom to produce?2. How much to produce?3. How to produce?4. What to produce?

Answer 1

Answer:

1. For whom to produce

Explanation:

One of the basic economic problem of the society is "For whom to produce". this means determining the target of production effort, who and who will get what. In this question the target of production is students struggling in math.

The price system allocates the output of production effort in a free market economy while the government through the central planning committee allocates resources in a socialist economy.

Apart from the question of For whom to produce, other fundamental problem of society are, what to produce and how to produce.