Basic Economic Problem?


The basic economic problem is scarcity which involves a lack of resources enough to satisfy human needs and wants. These resources include land, labour, capital and enterprise and cannot be enough since our wants are very extensive and a choice has to be made in the best way possible.
Q&A Related to "Basic Economic Problem?"
Save more than you spend.
Supply is defined as the availability of a product or service. Some things are very rare, while others are abundant. For example, gold is generally considered a rare commodity, while
why is what to produce a problem in every society.
The basic economic problem is that resources are scarce
1 Additional Answer Answer for: what is the basic economic problem
The basic economic problem asserts that there is scarcity, or that the finite resources available are insufficient to satisfy all human wants and needs.
Explore this Topic
Scale of preference is a basic economics concept. It means that there is a list of wants that everyone has that they want to satisfy. This list is then placed ...
When building a basis for business, there are four basic economic questions that need to be answered. The first basic economic question is what to produce. You ...
Economic System is addressed in three basic ways - How to,What to and for whom to produce.Japan Economic System is having great power all around the world.It follows ...
About -  Privacy -  Careers -  Ask Blog -  Mobile -  Help -  Feedback  -  Sitemap  © 2014