d) Unitary
2. The major cause of emergence of economic problem is
fi) Unemployment
Scarcity of resources
Inflation
(iv) Stagflation
mm alone a downward sloping straight line demand curve from
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Answer:
Scarcity of resources
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Answer:
Scarcity of resources
Explanation:
In economics, scarcity means that commodities and resources to produce goods and services are less in relation to their demand. Goods and services that satisfy human wants are produced with the help of resources such as land, labour, capital and enterprise. These resources are scarce while wants are unlimited. Due to scarcity of these resources, an economy cannot produce all that goods and services as required by its citizens. Consequently, some wants remain unsatisfied.
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