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Firlakuza [10]
3 years ago
5

Why scarcity and choice are basic economic problems faced by every Society??

Business
1 answer:
Ksju [112]3 years ago
3 0
The basic economic problem is that of scarcity and choice. This is because people have infinite wants in the face of limited resources, therefore decisions have to be made. The basic economic problem ensures that every society has to decide what to produce, how best to produce it, and for whom to produce it.
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Cost of goods sold                                        <u>$70</u>

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