Question

Choice between "production for the poor" or "production for the rich" refers to:

• A. How much to produce?
• B. For whom to produce?
• C. What to produce?
• D. When to produce?

Hint:

"For whom to produce?" decides the target market—poor or rich—in economic planning.

Answer 1

The Correct Option is B

The question of "production for the poor" or "production for the rich" pertains to the fundamental economic problem of for whom to produce, which involves determining the target market or beneficiaries of goods and services. This decision influences how resources are allocated and who benefits from production (e.g., affordable goods for low-income groups vs. luxury goods for high-income groups). The other options are distinct:
- How much to produce? (option 1) addresses the quantity of output.
- What to produce? (option 3) focuses on the type of goods or services.
- When to produce? (option 4) deals with the timing of production.
Thus, option (2) is correct, as it directly relates to the target audience of production.