Question

State two characteristics of economic resources which give rise to economic problem

Answer 1

characteristics of resources.
1. Resources are scares
2.They have alternative uses.
scarcity give rise to economic problems

Answer 2

Answer:

Characteristics of economic resources are:

1. They have alternative uses

2. Resources are 'scarce'

This scarcity gives rise to many kinds of economic problems.

Explanation:

Economic resources are inputs which we need for providing things or services.

Economic problems in India:

1. Low level of national income  

2. Predominance of agriculture

3. Tremendous population pressure

4. Massive unemployment

5. Low-level rate of capital formation and Scarcity of capital

6. Underdeveloped infrastructure

7. Low level of technology

8. Wealth and Vast inequalities in income