Question

3. State the fundamental fact that has led to the emergence of economic problem.​

Answer 1

Answer:

Ques 1.. State the fundamental fact that has led to the emergence of economic problem.

Answer 1. The fundamental fact that has led to the emergence of economic problem is two-fold characteristics of resources:

(1) resources are scarce, and

(2) resources have alternative uses.

Answer 2

The fundamental economic problem is related to the issue of scarcity. Because of limited resources and infinite demands, society needs to determine how to produce and distribute these relatively scarce resources.