Answer to Question #60266 in Other Economics for shruti
suppose, you want to buy a book for Rs.50 some food for Rs. 50, an ice cream costing Rs.50, an utensil for your mother costing Rs.50 and you have Rs.100 with you. What problem you have to face in this example? state the see reasons of this problem.
While choosing the items, which I will be able to buy for Rs.100, I will have to deal with the problem of comparative advantage. I will need to estimate which of those items will bring the greatest advantages and satisfaction to me. The reasons for this problem are: limited financial resources on the one side and high demand of recourses on the other.