Which of the following is a cause of an economic problem?

1.	Which of the following is a cause of an economic problem?
Answer» All of the above Scarcity of RESOURCES, Alternative uses and Unlimited wants are the CAUSE of an economic problem. Factors like production costs and labor affect the COST of scarce items. If the unlimited wants and NEEDS of a particular good can be met by resources, then it is not considered scarce. This would require the resources to be unlimited as well for it to MEET unlimited demand.

Answer»

All of the above

Scarcity of RESOURCES, Alternative uses and Unlimited wants are the CAUSE of an economic problem. Factors like production costs and labor affect the COST of scarce items. If the unlimited wants and NEEDS of a particular good can be met by resources, then it is not considered scarce. This would require the resources to be unlimited as well for it to MEET unlimited demand.

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Which of the following is a cause of an economic problem?

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