Question

what do you mean by economic problems​

Answer 1

An economic problem refers to any such problem in the economy that is concerned with the production of goods and services to satisfy the unlimited wants of the economy through the utilization of scarce resources

Answer 2

Explanation:

Heya!!

Here is your answer!!

• Economic problems are the problems arrising out of limited availability of resources as against unlimited human wants.

• Economic problems may refer to the unavailability of goods and services to satisfy the growing human population.

• Also the resources have alternative uses that is a single resource can be used to fulfill different wants.

• No matter how well an economy is ,the resources will remain always scarce to fulfill it's unlimited wants.

• As the resources are scarce, they can be allocated only to some particular use while sacrificing other possible uses.

• Thus,an economy should make a choice as to where to allocate the resources so as to fulfill the different and competing wants in the best possible manner.

• Economic problems may also be solved if we make use of sustainable development programs.

Hope it helps u!!