FORESTRY
AGRICULTURAL STATISTICS AND ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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____ is the root of all economic problems
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scarcity
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Population
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High demand
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None of the above
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Explanation:
Detailed explanation-1: -The scarcity of resources is regarded as the root cause behind central economic problems.
Detailed explanation-2: -In theory, human wants can be infinite, but there is a finite amount of material resources, meaning there will always be some degree of scarcity. An economic good has a degree of scarcity, allowing it to be priced. A free good, such as air, that is not scarce is thus not commodifiable.
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