Post
Topic
Board Economics
Re: The Basic economic problems of society
by
Oluwa-btc
on 02/03/2025, 17:11:25 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

What resources if i may ask? Is it natural resources or artificial I want to know, well I wouldn't know why you think the economic problems is caused by scarcity of resources that you didn't clearly mention but when you talk about economic problems the angle you should be coming from is inflation which has been a destructive force to the economy overtime and then you look at unemployment and then poverty and so many other area as well but this is the key angles you should be looking at when it comes to the basic economic problems of the society.