how is an economic problem, became a choice making activity
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Therefore, scarcity of resources gives rise to the fundamental economic problem of choice. As a society cannot produce enough goods and services to satisfy all the wants of its people, it has to make choices. ... So the problem of choice arises when there are alternative ways of producing other goods
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scarcity of resources gives rise to the fundamental economic problem of choice. As a society cannot produce enough goods and services to satisfy all the wants of its people, it has to make choices. ... So the problem of choice arises when there are alternative ways of producing other goods.
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