Question

what are the basic problem of an economy? write three in details​

Answer 1

Answer:

Basic Economic Problem. The fundamental economic problem is the issue of scarcity and how best to produce and distribute these scare resources. Scarcity means there is a finite supply of goods and raw materials. Finite resources mean they are limited and can run out.

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Answer 2

Answer:

• the division of labour.

• system of ownership .

• economy models.