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deal with the problem of scarcity.
Scarcity
answer 2 The fundamental question in economics concerns the Transaction.
At a simplistic end, a transaction is a simple exchange, with both parties equally satisfied with the outcome. This 'zero-sum' view is rather shallow.
After a transaction has been completed, BOTH parties consider they are better off than before the exchange. This conflicts with the zero-sum approach.
The fundamental laws in economics are the Law of Diminishing Returns, and the Law of Economies of Scale.
These form the driving forces behind Production and Consumption.
But it would be equally shallow to regard there being one Problem (/Solution) that outweighed all others.
The 'silver bullet' approach is analogous to the 'winner takes all' - a balanced view should always be considered.
Just a few thoughts.
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