Problems of economics?

Question

Problems of economics?

Answer 1

Meaning of economic problems:

An economic problem consists of making decisions regarding the end to be pursued and the means to be used for the achievement of these ends.

Why do they arise?

(i)   Multiplicity of human wants

(ii)  Scarcity of resources to satisfy human wants

(iii) Gradability of human wants according to their intensity and urgency

(iv) Alternative uses of scarce resources

               All four factors must be present simultaneously inorder for an economic problem to arise.

According to Paul Samuelson, there are three basic and inter-dependent problems faced by each and every economy. They are:

(i)   what to produce?

(ii)  how to produce?

(iii) for whom to produce?

                  Besides these, there are also certain other problems:

(iv) how are the available resources utilised?

(v)  how is the productive capacity of the economy?

Answer 2

problems of an economy are-

problem of allocation of resources

problem of growth of resources

problem of fuller utilisation of resources

problem of effi

Answer 3

'what to produce,where to produce, how to produce, how much to retain as savings,'

this covers all socio economic aspects and political fctors(for whom?) and covers production distibutin consumption and shocks as well as strategiy formulation production lays down basics of dynamism and can analyse all problems and conflicts and rhere can not b any problema s 2 whether to.......