Question

explain briefly as to how the economic problem is essentially a problem of choice​

Answer 1

Explanation:

Answer: Because scarcity of resources give rise to the fundamental economic problem of choice. As a society cannot produce enough goods and services to satisfy all the needs of its people, it has to make choice. Choices or alternatives are illustrated in the terms of PPC ( Production Possibility Curve ).

Answer 2

Answer:

Because scarcity of resources give rise to the fundamental economic problem of choice. As a society cannot produce enough goods and services to satisfy all the needs of its people, it has to make choice. Choices or alternatives are illustrated in the terms of PPC ( Production Possibility Curve ).