Question

Can you think of an economy without economic
problem? Explain your answer

Answer 1

Answer:

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Answer 2

Answer:

No, we cannot think of an economy without economic problems.

Explanation:

• One cannot imagine an economy without economic problems.
• This is because it is inevitable that every economy has to go through one or the other economic problem.
• Economic problems refer to the issues faced in the economy related to the production of goods and services which helps to satisfy the limitless wants of the economy through the utilization of scarce resources.
• We can limit or minimize these issues up to a certain extent but it is not possible to eradicate them forever.
• Every economy has to face economic problems.

Final Answer:

Hence, we cannot think of an economy without economic problems.

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