What are the causes of economic problems
Answers
Answered by
3
Explanation:
Causes of Economic Problem:
(i) Unlimited Wants: ADVERTISEMENTS: ...
(ii) Limited Resources: In economics, scarcity means that commodities and resources to produce goods and services are less in relation to their demand. ...
(iii) Alternative Uses of Resources: Means are not only limited but also have alternative uses.
Answered by
2
Causes of economic problems.
Explanation:
- Human desires are limitless in quantities. There is no limit to human desires; any moment one needs to be fulfilled, the other wants to come up immediately, and this goes on and on.
- Goods and services that fulfill human needs are created with the aid of resources such as soil, labor, capital and industry. Such tools are finite, whereas the needs are limitless.
- Owing to the lack of such commodities, the nation can not generate all the products and services needed by its people. As a consequence, certain citizens tend to stay unsatisfied.
- Resources are not only limited, but may often be employed in a number of ways. It makes the choice of resources more important. For example, fuel is used not only in cars, but also in machinery, generators, etc.
To know more:
what are the main causes of origin of economic problem - Brainly.in
https://brainly.in/question/8466216
explain causes of economic problem - Brainly.in
https://brainly.in/question/11127568
Similar questions