An economic problem generally means the problem of making choices that occurs because of the scarcity of resources. It arises because people have unlimited desires but the means to satisfy that desire is limited. Therefore, satisfying all human needs is difficult with limited means.
No. there cannot be an economy without an economic problem. Every economy has to face some or the other problem,economic problems can be minimised but cannot be completely eradicated as managing economy as awhole is difficult task and hence has to some or other problems.
Answers & Comments
Answer:
An economic problem generally means the problem of making choices that occurs because of the scarcity of resources. It arises because people have unlimited desires but the means to satisfy that desire is limited. Therefore, satisfying all human needs is difficult with limited means.
hope this is your answer armyyy
I am an army too
Verified answer
No. there cannot be an economy without an economic problem. Every economy has to face some or the other problem,economic problems can be minimised but cannot be completely eradicated as managing economy as awhole is difficult task and hence has to some or other problems.
thank you... thank you ...