The problem of “how to produce” in any economy is solved by
- combining capital and labour intensive methods of production
-
adopting the least cost method of production
- using capital intensive method of production
- employing the services of a manager
The correct answer is: B
Explanation
The problem of "how to produce" in any economy refers to the decision of choosing the most efficient and effective methods of production. This decision involves considering factors such as the available resources, technology, and the desired level of output. The goal is to minimize costs while maximizing productivity.