Social Sciences, asked by khushisaxena2204, 4 months ago

This is a Give Reason.
Problem of choice arises because available resources have alternative uses.
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Answers

Answered by cheppuz
1

Problem of choice refers to the allocation of various scarce resources which have alternative uses that are utilized for the production of various commodities and services in the economy for the satisfaction of unlimited human wants.

Resources in the economy are scarce and if these resources have alternative uses, and demand exists for all the commodities that will be produced. The producer will then face the problem of choice between the utilization of various resources for the production of the different commodities demanded in the market. 

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