Economic problem arise in all society because - WAEC Economics 2018 Question
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
correct option: c
Goods and services that satisfy human wants are produced with the help of resources such as land, labour, capital and enterprise. These resources are scarce while wants are unlimited. Due to scarcity of these resources, an economy cannot produce all that goods and services as required by its citizens.
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