what is the central problem of economocs
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The economic problem – sometimes called the basic or central economic problem – asserts that an economy's finite resources are insufficient to satisfy all human wants and needs. It assumes that human wants are unlimited, but the means to satisfyhuman wants are scarce.
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there are 3 central problem of economics
- what to produce ❓
- how to produce ❓
- for whom to produce ❓...
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