Question

what is an economic problem? how does it arise?​

Answer 1

Answer:

Economic problem arises from scarcity of resource . Every economy faces scarcity of resources because their wants are unlimited and their resources (means) are limited. Therefore, economic problem is the problem of economising scarce resources. It means making the best use of the available resources.

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Answer 2

Economic problems are the science that studies human behavior in relationship with ends and scarce means that have alternative uses. ... ' Economic problems asserts that an economy's finite resources are insufficient to satisfy all human wants and needs.

Economic problem arises from scarcity of resource . Every economy faces scarcity of resources because their wants are unlimited and their resources (means) are limited. Therefore, economic problem is the problem of economising scarce resources. It means making the best use of the available resources.

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