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Answer to Question #69231 in Economics for sejalkoobah

Question #69231
Economics textbooks often start by identifying the existence of the basic economic problem. What is it that makes this problem "basic" ?
1
Expert's answer
2017-07-10T12:35:07-0400
Scarcity of resources is basic economic problem because people have unlimited wants and resources are limited. Such constrains predetermine the necessity of various economic decision.

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