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Question
What Is the Root Cause of Economic Problems?
What Is the Root Cause of Economic Problems?
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Solution
The root cause of all economic problems is due to the fact that in an economy the resources are available in a limited quantity while the wants of the population are unlimited which leads to scarcity in supply.
The society or the economy must choose what to produce, how to produce and for whom to produce in order to maintain a balance.
Also read:
Central Problems of an Economy
MCQs on Central Problems of an Economy
Learn about more questions and answers on business studies and various other commerce topics from our website.
The root cause of all economic problems is due to the fact that in an economy the resources are available in a limited quantity while the wants of the population are unlimited which leads to scarcity in supply.
The society or the economy must choose what to produce, how to produce and for whom to produce in order to maintain a balance.
Also read:
Central Problems of an Economy
MCQs on Central Problems of an Economy
Learn about more questions and answers on business studies and various other commerce topics from our website.
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