Basic problems in economics?


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2012-04-15 09:22:42
2012-04-15 09:22:42

the basic problems in economics are as follows

what to produce,this problem rise due to our limited resources to our unlimited economy, the producer try solve these problem by producing the commodity which have the highest demand which will leads higher profit.remember that resources (land labor capital entrepreneurship) are scare or limited.


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following are the 4 basic economics problems- 1 what to produce and how much to produce? 2 how to produce? 3 for whom to produce? 4 how to accelerate economic growth?

Those are problems relating to the basic needs. In economics a psycological needs are salaries, food, shelter, clothing, etc.

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basic economics is simply defined as that how we manage our scarce resources

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A basic problem of economics is pure and simply a concentration of resources in the hand of a tiny group of individuals or corporations that generates most of the time total lack of access by the majority to the fullfilment of their basic needs such food, clothing, housing, healthcare and education or the quality of it.

the basic concepts of economics are scarcity,choice,scale of preference and opportunity cost

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The basic economics are culture, taxes, money, trade, goods and buisness.

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A rational self-interest.

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why is economics central to the problems of development

bisiness economics is the study of business related problems using economic techniqes like the study of market knowing the degree of competion prevailing in the market with the help of market structure techniques, the other example can be of the study of deamnd and supply forces. mostly micro econmics is regarded as business economics. it provides solution to basic problems of how to use scarce resource for unlimted wants.

Provide logic and methodology to find solutions to business problems

Wise spending of money, and funding being given to the wrong places. i have 2 out of 3 possibilities. someone else edit and refine this please.

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