explain the true solutions of central economic problem ??
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Explanation:
Another method the governments use to solve the problem of scarcity is by raising prices, but they must make sure that even the poorest consumers can afford to buy it. It can also ask certain firms to increase their production of scarce resources or to expand (using more factors of production).
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Explanation:
The basic problems central to any economy, therefore, relate to production, consumption and distribution. curve. The economic problem arises in every economy due to (a) Unlimited wants (b) Limited resources (c) Alternative uses of resources. Human beings are required to satisfy their basic needs for their survival.
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