Question

Which of the following is not a central problem of economy?

• A. How to produce?
• B. When to produce?
• C. What to produce?
• D. None of the above

Answer 1

Answer: (B)

When to produce?

The central problem of an economy does not deal with the time of production as it is assumed that human wants are unlimited and goods are required throughout the year. Therefore, the the problem of 'When to produce?' is not regarded as a central problem of the economy.