QAEconomics › Which consideration must be addressed when deciding for whom to produce
Q

Which consideration must be addressed when deciding for whom to produce

A

It is always prudent to determine who needs certain goods and services before producing them. This is the best criterion to apply when deciding for whom to produce. Producing items without identifying the market demands will lead to a “struggle-to-sell” scenario. This is built around the concepts of scarcity and allocation. We all don’t have unlimited resources at our disposal hence the need to identify gaps to be filled in a significant manner. Determine your customers first.

7 months ago
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