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How the social market economy may be used to solve the economic problems?

through provision of resources that are scares, to satisfy the needs and wants.


What is economics goals?

economics goals is to know how to manage is scares resources to satisfy is numerous wants or desire at a particular given time


What are the major aims of free-enterprise?

Free enterprise aims at maintaining free enterprise. It also aims at making best use of scares resources.


What is meant by economizing resources?

The fators on which the economy depends are called the Factors of production.These factors are in fact the agents of production.They are used to assist the production of goods and services.The Factors used in the production process are called the IMPUTS and the resulting finished goods are called the OUTPUTS.The factors are divided into land,labour,capital and entrepreneurship.


What is the importance of measuring national income?

to measure standard of living in a country GDP in generally use to measure the productivity in a country, to compare different sector's of economy, which sector is progressing at what speed, as it is progressing at the desired speed or not to measure the growth rate in crease in GDP generally shows the growth in the country GNP generally shows the standard of living and GDP generally shows the productivity in the country government planning needs data for forecasting of economic resources and to achieve targets, the national income figure gives the clear indications about the scares resources to achieve different targets to measure the distribution of income in different sectors, so the importance of sectors and the priority sectors so that investment should be done on that sector say banking in rural areas

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