Economy, asked by aishwaryaaishwarya16, 5 months ago

scalcity is the root of all economic problem explain the Statement

Answers

Answered by ayushisingh5
1

Answer:

Answer. Scarcity is the root cause for all economic problems. ... Thus, it is due to the scarce availability of resources (having alternative uses) to fulfil the different and competing unlimited wants that an economy faces the economic problem or the problem of choice.

Answered by tajsaba81
8

Answer:

Scarcity, or limited resources, is one of the most basic economic problems we face. We run into scarcity because while resources are limited, we are a society with unlimited wants. Therefore, we have to choose. We have to make trade-offs. We have to efficiently allocate resources. We have to do those things because resources are limited and cannot meet our own unlimited demands.

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