Answer:
Problem of ?what to produce?: The problem of what to produce means which goods and services and in what quantities are to be produced by an economy. We can produce a number of commodities with our limited resources, for example, the choice can be between consumer goods and capital goods. Within consumer goods, it is necessary to decide whether to produce luxurious or necessities. More of one commodity can be produced only at the lost of another. The guiding principle while choosing goods and services, is to obtain maximum utility.
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