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InterviewSolution
| 1. |
Explain the basic problem of an economy? |
| Answer» <html><body><p></p>Solution :Scarcity, or <a href="https://interviewquestions.tuteehub.com/tag/limited-1074043" style="font-weight:bold;" target="_blank" title="Click to know more about LIMITED">LIMITED</a> resources, is one of the most basic economic <a href="https://interviewquestions.tuteehub.com/tag/problems-13702" style="font-weight:bold;" target="_blank" title="Click to know more about PROBLEMS">PROBLEMS</a> we face. We <a href="https://interviewquestions.tuteehub.com/tag/run-1192138" style="font-weight:bold;" target="_blank" title="Click to know more about RUN">RUN</a> into scarcity because while resources are limited, we are a society with <a href="https://interviewquestions.tuteehub.com/tag/unlimited-1438880" style="font-weight:bold;" target="_blank" title="Click to know more about UNLIMITED">UNLIMITED</a> wants. Therefore, we have to choose. We have to <a href="https://interviewquestions.tuteehub.com/tag/make-546668" style="font-weight:bold;" target="_blank" title="Click to know more about MAKE">MAKE</a> trade-offs</body></html> | |