Question

explain the basic problem of economy.
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Answer 1

Explanation:

the basic problem _ scarcity or limited resources is one of the most basic economic problems we face. We run into scarcity because while resources are limited we are the society with unlimited wants

Answer 2

Basic Economic Problem

The fundamental economic problem is the issue of scarcity and how best to produce and distribute these scare resources. Scarcity means there is a finite supply of goods and raw materials. ... Unlimited wants mean that there is no end to the quantity of goods and services people would like to consume ...