1.1 Nature Of Economics 1.1.3 Flashcards by Amaan Shaikh | Brainscape

Q

What is the basic economic problem?

A

It refers to the scarcity of resources in relation to the unlimited wants and finite needs of individuals and societies.

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Q

Economic problems summarised in questions.

A

What to produce

How to produce

For whom to produce

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Q

A

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