Question

What is the basic economic problem that societies must solve.

Answer 1

Answer:

Basic Economic Problem The fundamental economic problem is the issue of scarcity and how best to produce and distribute these scarce resources.

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Explanation:

Answer 2

Answer:

The existence of scarcity creates the basic economic problem faced by every society, rich or poor: how to make the best use of limited productive resources to satisfy human needs and wants.

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