Question

2. The three basic problems of an economic system arise from : (a) scarcity of resources (b) abundance of resources (c) market failure (d) inequality of income ntion toloo place at any point no​

Answer 1

number b is right answer

Answer 2

Answer:

ADVERTISEMENTS: The following are the main questions which have been asked by the economists from time to time. It is worth remembering that all these fundamental questions arise because of the basic problem of scarcity confronting an economy. 1.

This can come in the form of physical goods such as gold, oil, or land. Or, it can come in the form of money, labour, and capital. What is considered a scarce resource? Gold, oil, silver, and other non-physical goods such as labour can all be considered a scarce resource.

Explanation:

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