_______ is the root of all economic problems.

Diversity

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Unlimited wants

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Scarcity

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Abundance

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Solution

The correct option is A Scarcity
The basic root of economic problems arises from the fact that resources are limited and wants are unlimited thus the resources are scarce. Society must now choose what to produce, how to produce and for whom to produce.

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"Scarcity is the root of all economic problems." Explain.

Business people have the skills to solve

(a) All social problems

(b) Some social problems

(d) All economic problems

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