Post
Topic
Board Economics
Re: The Basic economic problems of society
by
Oluwa-btc
on 01/03/2025, 23:48:12 UTC
The basic economics problens of society arise because of scarcity of resources.
Every society has to address three basic problems of daily living namely: what commodities to produce;how to produce them; for whom to produce these goods and services; and how to distribute. It must ration resources over time as well as maintain the current level of output and strive to achieve economic growth in the society

Of all things what you mentioned above here are minor problems that can be solve in no time but the basic problem right now in the society are what I would absolutely point out, which are bad governance. When the country is controlled by leaders with selfish interest the society is opened to more disheartening situations like corruption and again money ais another problem to look into. Therefore if there is no availability for this there's a possibility that the individuals will be in a poor state, money is one remedy and one assets that makes things work. So looking at this i believe if this problem are tackled then there's a need for betterment.