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economic growth-increase in the production of goods and services from one year to another.(ECONOMIC GROWTH HAS DECLINED AS WE ARE IMPORTING FROM OTHER COUNTRIES AND THERE IS NOW NO NEED TO MAKE NEW PRODUCTS/SERVICES)
Tourism-The decrease in tourists visiting and not spending.(country looks unattractive too expensive.
Inflation-increase in the cost of living from one year to the next(causing people to immigrate to countries like Australia in search of work,better pay,and third level colleges.
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∙ 12y ago
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∙ 12y agoPeople getting into debts they have know way to get out of and getting loans for houses there is no way they could afford.
Downward cycle of a booming economy, a real estate bubble where prices just cannot go up anymore and then sink down for various reasons.
To much debt and spending so the dollar is losing its value and is being inflated.
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∙ 9y agoThere are a number of basic economic problems. Three of these include what to produce, how to produce it, as well as for whom to produce it.
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∙ 12y agomicroeconomics,macroeconomics,international...ailyn
hello ailyn
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∙ 12y agoWise 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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∙ 11y agowhat to produce : the type and quanitity of goods to produce
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∙ 9y agoThere are a variety of economic problems that can affect society at any time. Unemployment, hyperinflation, and a government deficit are all examples of economic problems.
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∙ 11y agoscarcity,choice and opportunity cost
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The fundamental economic problem is?
Scarcity.
What is the fundamental economic problem?
The scarcity of productive resources relative to economic wants (limited resources verses unlimited wants) is the fundamental problem of Economics.
What is the fundamental problem of economic?
The scarcity of productive resources relative to economic wants (limited resources verses unlimited wants) is the fundamental problem of economics.
What are the three economic problem that all economies face because ofthe basic economic problem?
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 are the 3 fundamental questions that all economic systems must answer?
What to produce?How to produce?For whom to produce?These are the three fundamental questions that all Economic systems must answer.
The fundamental economic problem is?
Scarcity.
What is the fundamental economic problem?
The scarcity of productive resources relative to economic wants (limited resources verses unlimited wants) is the fundamental problem of Economics.
What is the fundamental problem of economic?
The scarcity of productive resources relative to economic wants (limited resources verses unlimited wants) is the fundamental problem of economics.
What are the three economic problem that all economies face because ofthe basic economic problem?
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 are the 3 fundamental questions that all economic systems must answer?
What to produce?How to produce?For whom to produce?These are the three fundamental questions that all Economic systems must answer.
What are the fundamental institutions of the present economic?
what are the fundamental of instituion of our present economic sytem
What are the fundamental institutions of the present economic system?
what are the fundamental of instituion of our present economic sytem
Which fundamental economic problem of farmers did new deal policies attempt to solve?
the answer to this question is scarcity of fertile land or shortage of labor
What is allocation in economics?
The allocation process in a particular society's economy is the process by which the three fundamental economic questions get answered in the society.
What is the fundamentals 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 ways to address?
There are three fundamental ways to address a problem: by solving it, by mitigating its impact, or by accepting and adapting to it. Solving the problem involves finding a solution that completely resolves the issue. Mitigating the impact involves reducing the negative consequences of the problem. Accepting and adapting to the problem involves shifting perspective and finding ways to work around or incorporate the problem into one's life or strategy.
Define the economic problem?
define economic problem
