Question on: WAEC Economics - 2018
Economic problem arise in all society because?
A
resources are mismanaged by leaders
B
there is no proper planning
C
resources are not in adequate supply
D
the services of economist are not employed
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Correct Option: C
The fundamental economic problem arises from scarcity, which means that resources are limited relative to the wants and needs of individuals and societies. Option C, "resources are not in adequate supply," directly addresses this core issue. The other options may contribute to economic problems but do not represent the fundamental cause.
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