A basic economic problem of any society is - WAEC Economics 2014 Question
A basic economic problem of any society is
A
high level of illiteracy
B
irregular power supply
C
population growth
D
resource allocation
correct option: d
The fundamental economic problem is the issue of scarcity and how best to produce and distribute these scare resources. Scarcity means there is a finite supply of goods and raw materials. Finite resources means they are limited and can run out
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