2.6. State the central problems of an economy. Explain any one
of them.
Answers
Answer:
The basic economic activities depend on the production, distribution, and disposition of services and goods that can fulfil human requirements. However, it is known that human wants and needs have no limit. ... This immensity of want and scarcity of resources gives birth to the central problems of an economy.
Explanation:
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The basic economic activities of life are production, distribution and disposition of goods and services. A society will be facing scarcity of resources during the time of fulfillment of these activities. As such scarcity is evident, due to the availability of limited resources, and human needs having no limit.
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