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The basic economic problem is about scarcity and choice, which every society has to deal with.
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All countries rich or poor large or small face the same basic economic problems and questions?
true
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.
Why country face an economic problem?
Because countries continuously struggle to address this very economic fact: how to effectively and efficiently manage limited resources that they have.
What do the economic systems of other countries have in common with the economic system of the US?
They face the same basic economic problems
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.
What do economics systems of other countries have in common with the US?
They face the same basic economic problems
What do the economics systems in other countries have in common with the economic system of the us?
They face the same basic economic problems
All countries rich or poor large or small face the same basic economic problems and questions?
true
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.
Why country face an economic problem?
Because countries continuously struggle to address this very economic fact: how to effectively and efficiently manage limited resources that they have.
What do the economic systems of other countries have in common with the economic system of the US?
They face the same basic economic problems
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.
What is the central economic problem that all societies have to face using the concept of opportunity cost?
What is the central economic problem
What problems did the Asian countries face as the worked toward economic development?
financial problems
What are the dangers of globalisation?
security (or reduced security), is one problem. The other is the issue for countries that were doing really well before globalization, they now face a future of diminishing world economic power. However the countries that had extreme poverty, will improve.
What kind of economic systems do Canada and the US have and what has brought prosperity to these two countries?
its called your face
What are the 5 poorest countries in the world?
The five poorest countries in the world based on GDP per capita are Burundi, South Sudan, Malawi, Niger, and Mozambique. These countries face significant economic challenges, including low income levels, limited access to basic services, and high levels of poverty.
