Question

what give rise to economic problem

Answer 1

Human wants are unlimited but resources to satisfy them are limited and this gives rise to the problem of choice, such as what should be produced and how and for whom production should be done. The problem of choice is the economic problem.

Answer 2

The Basic Problem - Scarcity. Scarcity, or limited resources, is one of the most basiceconomic problems we face. We run into scarcity because while resources are limited, we are a society with unlimited wants. Therefore, we have to choose.