Skip to main content

Central Problems of an Economy topic of CS Foundation

Central Problems of an Economy – topic of CS Foundation

Online CS Preparation : Production, distribution and disposition of goods and services are the basic economic activities of life. In the course of these activities, every society has to face scarcity of resources. Because of limited resources/scarcity of resources and infinite demands, society needs to determine how to produce and distribute these relatively scarce resources.
  1. What to produce?
Land, labour, capital, machines, tools, equipment’s and natural means are limited. Every demand of every individual in the economy cannot be satisfied, so the society has to decide what commodities are to be produced and to what extent.
There are 2 possible aspects of this central problem:

(i) What possible commodities to produce:  An economy has to decide, which consumer/general goods (rice, wheat, clothes, etc.) and which of the capital goods (machinery, equipment’s, etc.) are to be produced. In the same way, economy has to make a choice between civil goods (bread, butter, etc.) and defence goods (guns, tanks, etc.).

(ii) How much to produce: After deciding the goods to be produced, economy has to decide the quantity of each commodity that is selected. It means, if involves a decision regarding the quantity to be produced, of consumer or capital goods and civil or defence goods.

Watch and learn, for demo and free lectures click on CS Foundation online classes.
Takshila Learning offers online classes for CS course preparation. You can attempt our CS Foundation, CS Executive, or CS Professional classes with detailed explanation.  We try to provide explanation for the topics related to their profession so that they can understand the subject better. We value your money and time, and we provide complete support to our students. Students can contact us through e-mail, calls or online chats directly available on our site.

For a Free Demo call @ +91-88009-99280

Comments

Post a Comment

Thank you we will contact ASAP.

Popular posts from this blog

Lessons-Worksheets-Question Papers-CBSE Class 2 English

Lessons-Worksheets-Question Papers-CBSE Class 2 English CBSE 2nd Class English – One and Many  In this blog, we share the spelling rules used in the concept of  One  and Many. When there is only one of a naming word (noun), it is said to be a  singular noun . When a noun shows more than one, it is said to be in the  plural . We can add  –S, -es, -ves or ies  to show that there is more than one noun.  For example,  we say many birds, four biscuits, six brushes. But for the students of  Class 2 , it’s very difficult and confusing to understand where to use  s , es, ves or ies  in the form of many. Don’t worry, it looks difficult, but it is very easy as in grammar each concept has a set of rules that need to practice. Noun ending with  –s, -x, -o, -sh, -ch, and –ss  form plurals by taking  –es. Look at these pairs of words: Bus – Buses Brush – Brushes Continue ..... Click here ...
Post a Comment
Read more

Class 3 English Practice Grammar Worksheet -The Adverb

 Class 3 English Practice Grammar Worksheet -The Adverb Class 3 English – The Adverb – Kinds of Adverb Fill in the blanks with suitable Adverbs of place. Choose from the box.  Up               outside                       everywhere                 back                down      away          here                           there                     ...
Post a Comment
Read more

Bhakti Movement NCERT Class 12 History

Bhakti Movement NCERT Class 12 History The Bhakti movement was an effort to achieve salvation and emancipation by devotion to God. In Hindi, the word bhakti refers to fervent devotion to God. This movement, which stressed a single-minded, ardent devotion to God, is seen as the most characteristic act of religious progress during the Middle Ages. In the 12th and 13th centuries, Kabir Das was a key figure in the Bhakti Movement. As a result of the movement, Kabir Das' poems and religious writings attained widespread fame. Kabir Das was raised up by a Muslim family. However, his religious beliefs were influenced by his Hindu teacher Ramananda, who regarded Rama as the highest God. The first Sikh guru and the founder of Sikhism was Guru Nanak. He vehemently opposed prejudice based on customs, rivalry, and caste in religion. Nanak was raised in a Hindu household and from an early age began to exhibit spiritual tendencies. He helped the indigent and underprivileged. His followers began r...
Post a Comment
Read more