Question

Why do Central problems arise? Explain in very short.​

Answer 1

Question 1.) Why do Central problems arise? Explain in very short.

Answer 1.) The central problems arise basically because of the fact that the resources are scarce and have alternative uses.

Answer 2

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• ✓The central economic problems rise for the basic fact that the resources in the economy is scarce whereas the wants are unlimited.
• ✓In a survey conducted throughout the world it was found that the ratio between all the need of the earth and resources in it is 1.7:1 which is 7 times more than what the earth has all together.
• ✓Therefore, the problem of these resource allocation for the satisfaction of wants is the biggest task of the economy.