• Some economic problems
  • What is economics ?? As we all know economics is a social science that study the resource of allocation,distribution and consumption of capital and investment and of management of the factors of production. So Economic problems refers to the problem people, person, or individual encounters in the society while attempting to satisfy their numerous wants with the limited resources. Therefore basic economic problems includes What to produce,how to produce, for whom to produce and efficiency of resources or efficient use of resources.   What to produce??  The question of what to produce is one of the basic economic problems that confront any society or organization. The problem arises mainly as a result of the fact that human wants are unlimited relative to available resources ,it is practically impossible to produce all human wants or needs hence the need for resources allocation in order to meet the pressing needs of the people.
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  • 26 Nov '20 - 10:30am
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  • Comments (29)
  • adekuz007 on 26 Nov '20 - 12:56pm
    Nash's hang an hen never behave
    1
  • adekuz007 on 26 Nov '20 - 12:56pm
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    1
  • adekuz007 on 26 Nov '20 - 12:57pm
    behave using vs have cab
    1
  • adekuz007 on 26 Nov '20 - 12:57pm
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    1
  • adekuz007 on 26 Nov '20 - 12:57pm
    John Negev's jug hence
    1
  • adekuz007 on 26 Nov '20 - 12:58pm
    Bob Mensch two bangs
    1
  • karisma56 on 26 Nov '20 - 02:07pm
    knowledge is power
    1
  • karisma56 on 26 Nov '20 - 02:07pm
    thanks for the post
    1
  • henrysnow on 26 Nov '20 - 05:06pm
    thanks for d update
    1
  • henrysnow on 26 Nov '20 - 05:07pm
    thanks for d update
    1
  • henrysnow on 26 Nov '20 - 05:14pm
    thanks for d update
    1
  • princeugo20 on 26 Nov '20 - 07:50pm
    wow good post keep it up
    1
  • chijoke3 on 26 Nov '20 - 08:33pm
    thanks for the update
    1
  • 9icesamuel on 27 Nov '20 - 06:08am
    thanks for the update
    1
  • ariwah on 27 Nov '20 - 07:52am
    thanks for the information
    1
  • henrysnow on 27 Nov '20 - 05:43pm
    thanks for d update
    1
  • emmialex9 on 29 Nov '20 - 09:00am
    Thank you so much for the information
    1
  • tinoshaga312 on 30 Nov '20 - 03:26pm
    thanks for the updates okay
    1
  • tinoshaga312 on 30 Nov '20 - 03:27pm
    nice update keep it up okay
    1
  • chanelle on 17 Dec '20 - 07:15am
    Good information
    1
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