The basic economic problem is
A)lack of money.
B)unemployment.
C)poverty.
D)scarcity.
E)inflation.

Name: The basic economic problem is A)lack of money. B)unemployment. C)poverty. D)scarcity. E)inflation.
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Question

Quizplus · Accepted Answer

The basic economic problem refers to the scarcity of resources (such as land, labor, and capital) in relation to unlimited wants and needs. This means that there are not enough resources to produce everything that people desire, which leads to the need for choice and trade-offs.

The Basic Economic Problem Is