Question

Suppose you want to buy a book for rs 50 some food for rs 50 an ice cream costing rs 50 an utensil for your mother costing rs 50 and you have rs 100 with you what problem you have to face in this example? State the see reasons of this problem.

Answer 1

While choosing the items, which I will be able to buy for Rs.100, I will have to deal with the problem of comparative advantage. I will need to estimate which of those items will bring the greatest advantages and satisfaction to me.
The reasons for this problem are: limited financial resources on the one side and high demand of recourses on the other.

Answer 2

Instead of eating ice cream you can buy a book and utensils for your mother