0
the basic economic problem facing all societies is CHOICE.as we do not have enough resources to satisfy human wants, we find it difficult to choose between two or more choices which leads to opportunity cost.
Wiki User
∙ 13y ago
Add your answer:
Earn +20 pts
What are the solutions for basic economic problems?
what are the basic economic problems facing nigeria and their possible solutions
What do you understand by basic economic problem?
The basic economic problem is scarcity of resources which is caused by the existence of alternative uses of resources
Why do all countries face the basic economic problem?
The basic economic problem is about scarcity and choice, which every society has to deal with.
Basic economic problem will not be solved by?
which one of the following is not one of the basic economic question
What is the basic economic problem that makes choices necessary?
The basicc economic problem that makes choices necessary is that there are limited economic resources & unlimited human wants.
What are the solutions for basic economic problems?
what are the basic economic problems facing nigeria and their possible solutions
What do you understand by basic economic problem?
The basic economic problem is scarcity of resources which is caused by the existence of alternative uses of resources
Why do all countries face the basic economic problem?
The basic economic problem is about scarcity and choice, which every society has to deal with.
Basic economic problem will not be solved by?
which one of the following is not one of the basic economic question
What are the basic problem in the Philippines?
The basic economic problems in the country of Philippines is high unemployment. For those that are employed low wages is another economic problem.
How can the basic economic problem solved in a capitalist?
It is the price mechanism
What is the basic economic problem that makes choices necessary?
The basicc economic problem that makes choices necessary is that there are limited economic resources & unlimited human wants.
How can the basic economic problem solved in a capitalist economy?
It is the price mechanism
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.
Which basic economic problem does the US share with all other nations?
Scarcity of resources
What does scarce economic resources mean?
Scarcity is the basic economic problem that arises because people have unlimited wants but resources are limited.
How market forces help to solve basic economic problems?
how does the market mechanism solve the basic problem of free market economy?
