Question

in developing countries like india the economic problem that is problem of choice is acute than any other developed nation. Why? (ONLY CLASS 12TH STUDENTS ANSWER)

Answer 1

It is most primarily because of the fact that the rate of increase in population in India is far more than the rate of increase in population in any other developing country. So whatever our economy produce is less than what is needed to fulfill the demand of people.And this applies to all the goods.