What do all economic problems arise from?
A) scarcity
B) too little currency available in circulation
C) high unemployment rates
D) competition

Question

Quizplus · Accepted Answer

Economic problems arise from scarcity, which is the fundamental issue in economics. It refers to the situation where people have unlimited wants and needs, but there are limited resources to produce goods and services to satisfy those wants and needs. This creates an economic problem of how to allocate scarce resources to meet the infinite needs and wants of individuals and society. The other options mentioned (B, C, and D) may be consequences or factors that contribute to economic problems but do not represent the root cause.

What Do All Economic Problems Arise From