SSC
INDIAN ECONOMY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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scarcity is the root of
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social problems
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all economic problems
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political problems
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all problems
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Explanation:
Detailed explanation-1: -Scarcity, or limited resources, is one of the most basic economic problems we face. 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.
Detailed explanation-2: -Limited resources and unlimited human wants lead to scarcity. This is the root of all economic problems.
There is 1 question to complete.