Question

discuss the central problems of an economy .
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Answer 1

Explanation:

The basic economic activities of life are production, distribution and disposition of goods and services. A society will be facing scarcity of resources during the time of fulfillment of these activities. As such scarcity is evident, due to the availability of limited resources, and human needs having no limit.

Answer 2

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➢ The three basic economic problems are regarding the allocation of the resources. These are what to produce, how to produce, and for whom to produce.

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