Explain the problem of efficient utilisation of resources.
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Efficient use of resources refers to the ways using the available resources in an efficient way to satisfy the wants of the people. ... This is known as the problem of how to obtain the efficiency in the use of resources and distribution of the goods produced in an economy
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Explanation:
Efficient utilization of resource helps in economic planning of nation. No one country can think of improving its standards without utilizing resources. But, the problem is that over utilizing of some materials may prove to be fatal. Overuse of land Can make the soil infertile. This should be avoided because resources are not merely ours,they also belong to future generations.
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