GK
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Economics seeks the answer to the basic question of how to deal with ____
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money
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hunger
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demand
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scarcity
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Explanation:
Detailed explanation-1: -In order to solve the problem of scarcity, societies must make choices. The basic economic questions are the main or basic choices that all societies must answer. These choices are influenced or guided by the rules or parameters set by each society. These rules or parameters compose the economic system.
Detailed explanation-2: -The Basic Problem-Scarcity We run into scarcity because while resources are limited, we are a society with unlimited wants. Therefore, we have to choose. We have to make trade-offs. We have to efficiently allocate resources.
There is 1 question to complete.