Economic problem arise in all society because?
...Economic problem arise in all society because?
Resources are mismanaged by leaders
There is no proper planning
Resources are not in adequate supply
The services of economist are not employed
Correct answer is C
Goods and services that satisfy human wants are produced with the help of resources such as land, labour, capital and enterprise. These resources are scarce while wants are unlimited. Due to scarcity of these resources, an economy cannot produce all that goods and services as required by its citizens.
If the demand for a good is more elastic than its supply, the tax burden is borne ...
If a country has a balance of payments surplus on current account, this means that ...
The grouping of the population according to the economic activities people engage in is ...
Other things being equal, an increase in supply will lead to ...
If a good is an inferior good, then ...
Petroleum has the following positive contributions to the Nigerian economy except ...
Which of the following are examples of transfer payments? ...
If the demand curve facing a firm is sharply downward-sloping, the firm is likely to be ...
The introduction of money into the economy has helped to resolve the following problems EXCEPT ...