A basic economic problem of any society is
...A basic economic problem of any society is
High level of illiteracy
Irregular power supply
Population growth
Resource allocation
Correct answer is D
The fundamental economic problem is the issue of scarcity and how best to produce and distribute these scare resources. Scarcity means there is a finite supply of goods and raw materials. Finite resources means they are limited and can run out.
Economic activities are undertaken to solve the problem of ...
EXPECTED REVENUE Items Amount ($m) Rents and royalties 75.00 ...
A form of tax in which the poor pay a higher rate than the rich is known as ...
Development plans fail in Nigeria mainly because of ...
If the demand for a good is more elastic than its supply, the tax burden is borne ...
A market situation with few sellers and many buyers is called ...
Balance of payment surplus implies that receipts for exports are ...