Question

Question 1:- What is an economic problem? Why Economics problems rise in economy?​

Answer 1

The economic problem – sometimes called the basic or central economic problem – asserts that an economy'sfinite resources are insufficient to satisfy all human wants and needs.Economics involves the study of how to allocate resources in conditions of scarcity.

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Answer 2

Answer:

ᴛʜᴇ ᴇᴄᴏɴᴏᴍɪᴄ ᴘʀᴏʙʟᴇᴍ – sᴏᴍᴇᴛɪᴍᴇs ᴄᴀʟʟᴇᴅ ᴛʜᴇ ʙᴀsɪᴄ ᴏʀ ᴄᴇɴᴛʀᴀʟ ᴇᴄᴏɴᴏᴍɪᴄ ᴘʀᴏʙʟᴇᴍ – ᴀssᴇʀᴛs ᴛʜᴀᴛ ᴀɴ ᴇᴄᴏɴᴏᴍʏ's ғɪɴɪᴛᴇ ʀᴇsᴏᴜʀᴄᴇs ᴀʀᴇ ɪɴsᴜғғɪᴄɪᴇɴᴛ ᴛᴏ sᴀᴛɪsғʏ ᴀʟʟ ʜᴜᴍᴀɴ ᴡᴀɴᴛs ᴀɴᴅ ɴᴇᴇᴅs. ᴇᴄᴏɴᴏᴍɪᴄs ɪɴᴠᴏʟᴠᴇs ᴛʜᴇ sᴛᴜᴅʏ ᴏғ ʜᴏᴡ ᴛᴏ ᴀʟʟᴏᴄᴀᴛᴇ ʀᴇsᴏᴜʀᴄᴇs ɪɴ ᴄᴏɴᴅɪᴛɪᴏɴs ᴏғ sᴄᴀʀᴄɪᴛʏ.

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