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JAMB UTME - Economics - 2000

Vraag 1 Verslag

(i) What and how much will be produced

(ii) How will it be produced

(iii) For whom will it be produced

(IV) How much will be exported and consumed?

From the above, identify the combination of basic resource allocation questions in economic analysis.

Antwoorddetails
The combination of basic resource allocation questions in economic analysis involves the following: (i) What and how much will be produced? This question is related to the allocation of resources towards the production of goods and services. (ii) How will it be produced? This question pertains to the utilization of resources and technology to produce goods and services. (iii) For whom will it be produced? This question involves the allocation of the produced goods and services to consumers based on their needs and purchasing power. (iv) How much will be exported and consumed? This question relates to the allocation of goods and services towards exports or domestic consumption. Therefore, the combination of basic resource allocation questions in economic analysis is (i), (ii), and (iii), which involves the production of goods and services, the process of production, and the allocation of the produced goods and services to consumers. Option (iv) is also relevant but focuses specifically on the allocation of goods and services towards exports and domestic consumption, which is a subset of the broader resource allocation questions.
Lees lesnotitie op Factors Of Production And Their Theories (JAMB)
Lees lesnotitie op Methods And Tools Of Economic Analysis (JAMB)
Lees lesnotitie op International Trade And Balance Of Payments (WAEC)
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