the basic economic problems of every indivisual is ______and______
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Answer:The fundamental economic problem facing all societies is that of scarcity. Scarcity is the condition that results from society not having enough resources to produce all the things people would like to have.
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The four basic problems of an economy, which arise from the central problem of scarcity of resources are:
What to produce?
How to produce?
For whom to produce?
What provisions (if any) are to be made for economic growth?
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