what are the reason for the emergency of economic problems
Answers
Answer:
Causes of economic problems
Scarcity of resources: Resources like labour, land, and capital are insufficient as compared to the demand. Therefore, the economy cannot provide everything that people want. Unlimited Human Wants: Human beings' demands and wants are unlimited which means they will never be satisfied
Answer:
causes of economic problems
1) Scarcity of resources : Resources like labour , land and capital are insufficient as compared to the demand . Therefore , the economy cannot provide everything that people want .
2) Unlimited human wants : Human beings demands and wants are unlimited which means they will never be satisfied . If a person's one want is satisfied , they will start having new desires . People's wants are unlimited and keep multiplying , Therefore , cannot be satisfied because of limited resources .
3) Alternative uses : Resources being scarce , the same resources are used for different purposes and it is therefore essential to make a choice among resources .