Economic problem occurs when
...Economic problem occurs when
There is scarcity relative to demand
All raw materials are imported
Many people are out of work
There are no buyers for our goods
Correct answer is A
Scarcity explains the basic economic problem that the world has limited or scarce resoures to meet seemingly unlimited wants, and this reality forces people to make decisions about how to allocate resources in the most efficient way.
The exports-promotion strategy is aimed at producing ...
A characteristic common to partnership and sole proprietorship is ...
Which of the following measures will not encourage industrialization in West Africa? ...
The stock exchange is a market for the buying and selling of ...
Money supply at any given point in time is referred to as ...
Disequilibrium in the balance of payment means ...
The price elasticity of supply of perishable goods is_________? ...