Question

problem of choice is the basic economic problems​

Answer 1

Explanation:

The Problem of Choice: ... 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.

Answer 2

Answer:

Basic Economic Problem

Explanation:

The basic economic problem occurs due to limited / scarcity of  resources but unlimited wants and needs. The reason why choice is also important in this is because of each resource has alternate uses, for example copper can be used in electric wiring as well as pots and pans, but we only have limited copper. We as consumers face this choice ( can also be opportunity cost ), when we choose to buy a car instead of going on a holiday.

* opportunity cost is the next best alternative forgone.

Hope this helps!