An economic problem is basically the problem of choice which arise because of scarcity of resources.Humans wants are unlimited but means to satisfy them are limited.Therefore all humans ,can't not be satisfied with limited means .In such a background ,Every consumer tries to satisfy his maximum wants
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Explanation:
An economic problem is basically the problem of choice which arise because of scarcity of resources.Humans wants are unlimited but means to satisfy them are limited.Therefore all humans ,can't not be satisfied with limited means .In such a background ,Every consumer tries to satisfy his maximum wants