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WAEC Economics 2013 Question 27

Question 27

Basic Concepts

Which of the following best explains what to produce?

  1. A.How much goods are to be produced.
  2. B.The combination of resources to be used.
  3. C.Which goods and services to be produced.
  4. D.How many wants are to be satisfied.
Show the answer and explanation

Answer: C (Which goods and services to be produced.)

Explanation

'What to produce' is deciding which goods and services (and how much) to make.