Question

what are the reasons of appearing an economic problem?​

Answer 1

Explanation:

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.

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.

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