Economy, asked by kinzaarif02, 1 month ago

why we need economic system

Answers

Answered by abhajain2982
0

Answer:

We don't have the resources to produce ourselves .That is why we need economic system.

Answered by nehaparveen75
0

Answer:

Economics seeks to solve the problem of scarcity, which is when human wants for goods and services exceed the available supply. A modern economy displays a division of labor, in which people earn income by specializing in what they produce and then use that income to purchase the products they need or want.

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