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the basic economic problem is the unlimited wants and needs of human which results to scarcity of resources. what are the needs?-the needs are the things we must posses in order to survive like food,water, clothing,shelter. while the wants are those things that human would like to have in order to improve there status in life. we limited resources that'a why encounter this problem. the economic resources like land, labor,and capital which are the factors if production are insufficient to satisfy our needs and wants.
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What are the three main elements of the basic economic problems?
scarcity,choice ,demand
What are the solutions for basic economic problems?
what are the basic economic problems facing nigeria and their possible solutions
How are the basic economic problems solved in economies?
this sucks
Are the three basic economic?
Mixed free and planned ((;
How do the four economic systems answer the three basic questions of economics?
Societies answer the three economic questions based on their values!
What are the three main elements of the basic economic problems?
scarcity,choice ,demand
What are the solutions for basic economic problems?
what are the basic economic problems facing nigeria and their possible solutions
What do economics systems of other countries have in common with the US?
They face the same basic economic problems
How are the basic economic problems solved in economies?
this sucks
What are the basic problem in the Philippines?
The basic economic problems in the country of Philippines is high unemployment. For those that are employed low wages is another economic problem.
Are the three basic economic?
Mixed free and planned ((;
How do the four economic systems answer the three basic questions of economics?
Societies answer the three economic questions based on their values!
How do we classify a nation's economic system?
According to how the three basic economic questions are answered.
What do the economics systems in other countries have in common with the economic system of the us?
They face the same basic economic problems
The three basic economic systems are?
Mixed free and planned ((;
What type of economy answers the three basic economic questions?
3 types of economic system
What are the three economic problem that all economies face because ofthe basic economic problem?
The basic economic problem which is Scarcity give rise to 3 fundamental problems. 1) What to produce (Type & how many) 2) How to produce (Methods of production) 3) Whom to produce for (Not for everyone will get the good) Because of limited resources.
