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What is central problem? What are its reason?
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What is central problem? What are its reason?
Its reasons are as follow. 1. Resources are limited 2. Unlimited wants of consumer 3. Alternative uses
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What is central problem? What are its reason?
These are those problems which are faced by every economy. Reasons are :- 1. Unlimited wants - Human wants are unlimited. They can never be fully satisfied. 2. Limited resources - Resources are limited with respect to our needs. 3. Alternative uses- Some goods have alternative uses like milk; making for tea, curd, butter, cheese, etc..
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What is central problem? What are its reason?
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