Question

Make a presentation on the central problems an economy faces. Explain these with reference to Indian economy.

Answer 1

Answer:

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Explanation:

The problem of choice arises on account of the pressure of three interrelated facts, viz, human wants are unlimited, means required to satisfy these wants are limited and means are capable of being put to alternative uses. There would be no problem if the scarce means had only a single use. However, in reality, these scarce means have alternative uses.

Answer 2

Answer:

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