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Q: What is the fundamental economic questions all societies must face?
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What is the central economic problem that all societies have to face using the concept of opportunity cost?

What is the central economic problem


All countries rich or poor large or small face the same basic economic problems and questions?

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What are the three basic economic questions that every society must face?

What to produce How much to produce and for whom to produce LOL idk if thats right .... :)


What is a fundamental proplem face with the youth today?

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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.


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Why do all societies face the problem of scarcity?

All resources are scarce.


Do all countries rich or poor large or small face the same basic economic problems and questions?

Yes. The difference is that richer countries can cover these basic ones more easily, and can move on to covering more advanced questions.


Why do countries with different economic systems face the same fundamental economic problems?

The central problem in economics is that resources are scarce and have alternative uses, but our wants are without limits! Therefore not all of our wants can be satisfied. We must therefore choose what goods and services to produce and therefore which of our many wants to satisfy.


What kind of economic problems did Britain face at the end of the war?

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What do economics systems of other countries have in common with the US?

They face the same basic economic problems