Question

Which of the following is central problem of an economy? ​

Answer 1

Answer:

Scarcity of economics’ is the central problem of economics. It means that the resources in the world are limited whereas the wants of a man are unlimited and never ending. Due to this, the resources are always insufficient to satisfy all human wants and needs. Apart of being scarce, the resources have alternative uses as well. Thus, it becomes extremely important to use the resources in the most effective and efficient manner.

Explanation:

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Answer 2

Answer:

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