The basic economics problem of what to produce arises as ...
The basic economics problem of what to produce arises as a result of
Competing demands for scarce resources
Excessive supply
The availability of too many experts
The failure of the price system
The reduction of poverty
Correct answer is A
No explanation has been provided for this answer.
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An ad valorem tax is imposed on ...
The imposition of high income tax by government to cut down demand is known as ...