Success Roar Classes

Solution of Central Problems in Different Economies

We have seen that NO Economy can escape from these three Central Problems – (Solution of Central Problems in Different Economies)

  • What to produce?
  • How to produce?
  • For whom to produce?

But yes, an economy can solve these problems depending on their motive of carrying economic activities

  • Profit Maximization
  • Social Welfare Maximization
  • Both Profit Maximization and Social Welfare Maximization

So, let’s see how each economy solves these Central Problems.

Solutions of Central Problems in Different Economies - Success Roar Classes
Solutions of Central Problems in Different Economies – Success Roar Classes

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