Question

State 3 reason which give rise to an economic problems​

Answer 1

Explanation:

Three reason which give rise to an economic problems are as follows:-

(a) Accumulation of capital stock.

(b) Technological advancement.

(c) Increase in national Income.

Answer 2

There are three reasons :

• (1) Wants of the people are unlimited.
• (2) Resources are limited.
• (3) Resources have alternative uses.

'For Whom to Produce' means that how should output produced be distributed among people. How much output will each person get depend on the income of the person, Therefore, the problem amounts to how should income be distributed in the society.

Detailed Answer:

Central problems of an economy arises due to the following reasons :

• (a) Limited or Scarce Resources
• (b) Alternative uses
• (C) Unlimited wants