WAEC - Economics (2012 - No. 1)
Which of the following problems arises where there are more than one technically possible methods of production
Where to produce
for whom to produce
how to produce
what to produce
Giải thích
The problem of how to produce refers to selection of techniques to be used for production of goods and services. By technique we mean labour or capital intensive techniques. That is knowing the input combination to be used.