Question

Briefly explain of the central problem of an economy???​

Answer 1

Answer:

the central problem of an economy is the no. of people involved in a certain thing because the more no. of peopl the less the final product because of people taking some money each time it is neared to them so this the basic reason for the fall of a country's economy.

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Answer 2

The basic economic activities of life are production, distribution, and disposition of goods

This problem deals with determining the final consumers of the goods produced. As resources are scarce in an economy, it becomes difficult to cater to all sections of the society.It leads to a problem of choice in an economy as a good that may be in demand among one section, may not be in demand for another section of the society.Such a situation arises due to the difference in income distribution among the population, which causes a change in buying behaviour.With this, we conclude the concept of central problems of an economy. Stay tuned to our website for more such exciting updates.

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