WAEC Economics 2012 Objective — Question 1
Question 1 of 49 from the West African Examinations Council (WAEC) Economics 2012 Objective paper, with the correct answer and a full explanation.
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Which of the following problems arises where there are more than one technically possible methods of production?
- A. Where to produce
- B. For whom to produce
- C. How to produceCorrect
- D. What to produce
Explanation
How to produce is the problem of choosing the method of production to be used after what to produce has been decided. It can either be a labour intensive method or capital intensive method of production.
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