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Question
An economic problem mainly arises due to _____________ of resources.
An economic problem mainly arises due to _____________ of resources.
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Solution
The correct option is B scarcity
All the economic problems that is what to produce, how to produce and for whom to produce revolves around the production of goods and services in the economy since the resources in the economy are scarce and human wants are unlimited. Thus, there is a need to utilize these resources very efficiently in order to solve the economic problems and maximise output.
All the economic problems that is what to produce, how to produce and for whom to produce revolves around the production of goods and services in the economy since the resources in the economy are scarce and human wants are unlimited. Thus, there is a need to utilize these resources very efficiently in order to solve the economic problems and maximise output.
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