what are the
central problem of an
economy.
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The basic economic activities of life are production, distribution and disposition of goods and services. A society will be facing scarcity of resources during the time of fulfillment of these activities. ... Therefore, this variation between the supply and demand leads to the formation of central problems of an economy.
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The three basic economic problems are regarding the allocation of the resources. These are what to produce, how to produce, and for whom to produce.
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