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Scarcity is a fact of the universe. In other words, there's never enough of everything to satisfy all the needs and desires of everyone. (Unless we someday invent replicators like they have on Star Trek! In the fictional Star Trek universe scarcity no longer exists and there are no economic problems.) Because there is scarcity, there is economization. Not everyone gets to have everything they want, and economic problems will never disappear.

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Q: Will economic problems ever disappear and if so why?
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It is now but then so are most countries.


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I think because the development of a country depends upon economic factors and so you can only understand how a country is developing if you know about how the economic factors are and how the factors change. Many problems of development stem from a lack of money and economics is all about money so the two areas of developmentand economics are related. Problems of development are like not having enough money, which means too much poverty and high unemployment rates and these aspects of the problems are centralissues in economics and so economics teaches us about problems indevelopment and so we can better understand these problemsprincipally by looking at economic factors that define the problems. Its mainly money at the centre of economic problems or a lack of money and so it is effected largely by how money is distributed among people and for what purposes money uses which are central issues ineconomics. I suppose you can't understand unemployment as well as an economist understands unemployment because economists look at unemployment all the time and pay very close attention to it so economists are very good at understanding economic developmentproblems for this reason and probably other reasons. Furthermoreeconomics is a social science and is concerned with people and economic development problems also stem from people so these fields are related and understanding the one helps you better understand the other because you can build up a bigger picture.


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Related questions

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Why have countries in central Asia faced economic problems?

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Why is economics central to an understanding problems of development?

I think because the development of a country depends upon economic factors and so you can only understand how a country is developing if you know about how the economic factors are and how the factors change. Many problems of development stem from a lack of money and economics is all about money so the two areas of developmentand economics are related. Problems of development are like not having enough money, which means too much poverty and high unemployment rates and these aspects of the problems are centralissues in economics and so economics teaches us about problems indevelopment and so we can better understand these problemsprincipally by looking at economic factors that define the problems. Its mainly money at the centre of economic problems or a lack of money and so it is effected largely by how money is distributed among people and for what purposes money uses which are central issues ineconomics. I suppose you can't understand unemployment as well as an economist understands unemployment because economists look at unemployment all the time and pay very close attention to it so economists are very good at understanding economic developmentproblems for this reason and probably other reasons. Furthermoreeconomics is a social science and is concerned with people and economic development problems also stem from people so these fields are related and understanding the one helps you better understand the other because you can build up a bigger picture.


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