The basic economic problem - There are infinite wants and needs from every person in the world however there are not enough resources to fulfil all of these so we have to distribute resources as fairly as possible and make decisions that have an opportunity cost.
The basic economic problem is that there are infinite wants and needs and scarce resources that can not fulfill all of the needs and wants, so a choice has to be made with an opportunity cost
the basic economic problem is that people have unlimited needs and wants. however, there are scarce resources, which means that whatever choice you you make, results in the next best alternative given up - or the opportunity cost.
The basic economic problem is that there are an unlimited amount of wants and needs and scarce resources that are not able to fulfil the wants and needs of humans. A choice has to be made and there will always be an opportunity cost.
the basic economic problem is that there are infinite wants and needs from people all around the world, however, the resources needed to fulfill these wants and needs are finite/scarce. so, to overcome the problems certain people such as entrepreneurs, ministers, etc. need to make important choices/decisions on how to use these recources in the most economic way.
The basic economic problem is there are unlimited wants and needs from everyone but not enough resources to fulfil what they desire leading to the result of distributing resources fairly and make choices that have a opportunity cost
the basic economic problem is that there are unlimited needs and wants compared to the scarce resources, more demand than supply, which results in people having to make choices such as what to produce, how to produce and for whom to produce.
The basic economic problem is that people have unlimited wants and needs however they are not all available, due to scarce resources. The people then have to make decisions on what to produce, how to produce and whom to produce for. The option they did not take is the opportunity cost.
The basic economic problem is that there are infinite needs and wants and scarce resources, there is more demand than there is supply so we have to choose what to produce, how to produce it and who to produce it for, not fulfilling everyones wishes and having oppurtunity costs
The basic economic problem is that there are an infinite amount of needs and wants however there is a finite amount of resources so we have to make decisions about what we should and shouldnt have. We need to allocate the resources fairly . The 2nd best alternative after making a decision is the opportunity cost
The basic ecomomic problem is that there are a finite number of resources that need to be allocated to satisfy needs and wants that are unlimited. this is solved by the public + private sector working together to allocate these resources
Barney brett The basic ecomomic problem is that there are a finite number of resources that need to be allocated to satisfy needs and wants that are unlimited. this is solved by the public + private sector working together to allocate these resources
The basic economic problem is that there are unlimited wants but limited (or finite) resources to fuel all the wants, a mixture of the public and the private sector allocate these goods and services
The basic economic problem is scarcity which involves a lack of resources enough to satisfy human needs and wants. These resources include land, labour, capital and enterprise and cannot be enough since our wants are very extensive and a choice has to be made in the best way possible. To tackle the economic problem, we have to clampen down on the population of the Earth before needs like food and water become very scarce.
The basic economic problem is that there is unlimited wants and needs, but only limited resources. these resources need to be allocated to satisfy everyone's needs and wants. the public and private sector work together to do this.
The basic economic problem - There are infinite wants and needs from every person in the world however there are not enough resources to fulfil all of these so we have to distribute resources as fairly as possible and make decisions that have an opportunity cost.
ReplyDeleteThe basic economic problem is that there are infinite wants and needs and scarce resources that can not fulfill all of the needs and wants, so a choice has to be made with an opportunity cost
ReplyDeletethe basic economic problem is that people have unlimited needs and wants. however, there are scarce resources, which means that whatever choice you you make, results in the next best alternative given up - or the opportunity cost.
ReplyDeleteThe basic economic problem is that there are an unlimited amount of wants and needs and scarce resources that are not able to fulfil the wants and needs of humans. A choice has to be made and there will always be an opportunity cost.
ReplyDeletethe basic economic problem is that there are infinite wants and needs from people all around the world, however, the resources needed to fulfill these wants and needs are finite/scarce. so, to overcome the problems certain people such as entrepreneurs, ministers, etc. need to make important choices/decisions on how to use these recources in the most economic way.
ReplyDeleteThe basic economic problem is there are unlimited wants and needs from everyone but not enough resources to fulfil what they desire leading to the result of distributing resources fairly and make choices that have a opportunity cost
ReplyDeletethe basic economic problem is that there are unlimited needs and wants compared to the scarce resources, more demand than supply, which results in people having to make choices such as what to produce, how to produce and for whom to produce.
ReplyDeleteThe basic economic problem is that people have unlimited wants and needs however they are not all available, due to scarce resources. The people then have to make decisions on what to produce, how to produce and whom to produce for. The option they did not take is the opportunity cost.
ReplyDeleteThe basic economic problem is that there are infinite needs and wants and scarce resources, there is more demand than there is supply so we have to choose what to produce, how to produce it and who to produce it for, not fulfilling everyones wishes and having oppurtunity costs
ReplyDeleteThe basic economic problem is that there are an infinite amount of needs and wants however there is a finite amount of resources so we have to make decisions about what we should and shouldnt have. We need to allocate the resources fairly . The 2nd best alternative after making a decision is the opportunity cost
ReplyDeleteThe basic ecomomic problem is that there are a finite number of resources that need to be allocated to satisfy needs and wants that are unlimited. this is solved by the public + private sector working together to allocate these resources
ReplyDeleteShahmeer
Barney brett
ReplyDeleteThe basic ecomomic problem is that there are a finite number of resources that need to be allocated to satisfy needs and wants that are unlimited. this is solved by the public + private sector working together to allocate these resources
The basic economic problem is that there are unlimited wants but limited (or finite) resources to fuel all the wants, a mixture of the public and the private sector allocate these goods and services
ReplyDeleteThe basic economic problem is scarcity which involves a lack of resources enough to satisfy human needs and wants. These resources include land, labour, capital and enterprise and cannot be enough since our wants are very extensive and a choice has to be made in the best way possible. To tackle the economic problem, we have to clampen down on the population of the Earth before needs like food and water become very scarce.
ReplyDeleteThe basic economic problem is that there is unlimited wants and needs, but only limited resources. these resources need to be allocated to satisfy everyone's needs and wants. the public and private sector work together to do this.
ReplyDelete-Jodutt Qudsiyeh