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The scarcity of productive resources relative to economic wants (limited resources verses unlimited wants) is the fundamental problem of Economics.
The scarcity of productive resources relative to economic wants (limited resources verses unlimited wants) is the fundamental problem of economics.
what are the fundamental of instituion of our present economic sytem
The basic economic problem which is Scarcity give rise to 3 fundamental problems. 1) What to produce (Type & how many) 2) How to produce (Methods of production) 3) Whom to produce for (Not for everyone will get the good) Because of limited resources.
What to produce?How to produce?For whom to produce?These are the three fundamental questions that all Economic systems must answer.
The scarcity of productive resources relative to economic wants (limited resources verses unlimited wants) is the fundamental problem of Economics.
The scarcity of productive resources relative to economic wants (limited resources verses unlimited wants) is the fundamental problem of economics.
what are the fundamental of instituion of our present economic sytem
what are the fundamental of instituion of our present economic sytem
the answer to this question is scarcity of fertile land or shortage of labor
The basic economic problem which is Scarcity give rise to 3 fundamental problems. 1) What to produce (Type & how many) 2) How to produce (Methods of production) 3) Whom to produce for (Not for everyone will get the good) Because of limited resources.
The scarcity of productive resources relative to economic wants (limited resources verses unlimited wants) is the fundamental problem of Economics.
What to produce?How to produce?For whom to produce?These are the three fundamental questions that all Economic systems must answer.
define economic problem
fundamental or involving the common people as constituting a fundamental political and economic group
Scarcity is the fundamental economic problem of having seemingly unlimited human needs and wants, in a world of limited resources. It states that society has insufficient productive resources to fulfill all human wants and needs. ...
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