What basic economic problem has always existed and will continue to exist?
A)Scarcity
B)Efficiency
C)Inflation
D)Recession

Question

Quizplus · Accepted Answer

Scarcity is the basic economic problem that has always existed and will continue to exist. Scarcity refers to the limited availability of resources in relation to the unlimited wants and needs of individuals and society as a whole. This fundamental problem cannot be completely solved, as there will always be limitations on resources and human desires. It is the responsibility of economics to study how society can allocate its scarce resources more efficiently to satisfy as many wants and needs as possible.

What Basic Economic Problem Has Always Existed and Will Continue