Economics Problems is a problem of choice . its is Problems of optimizing for satisfying growing humans wants.the Problems becomes more demanding because of alternative uses of scarce means.Economics Problems is therefore a problem of choice. Economics Problems arises due to following reasons: 1.Unlimited wants-Human wants are unlimited .if one want is satisfied there awaits another to be satisfied & thus unending chain of human wants can never satisfy all the wants.Unlimited wants is the root cause of emergence of economic problem. 2.Scarcity of means-This wants include money,time,etc.all these resources of means at disposal of the individuals also society lead to Scarcity of means .such Scarcity of resource coupled with unending wants give rise to Economics Problems 3 Alternative use of means-Alternative use of means are the another factor ,which is responsible for the emergence of Economics Problems.scarce means can be use to alternative uses . a single means can be used to put for multiple uses. this characteristic of means makes the choice among the different wants still more difficult.with the given means like money or time, one can easy satisfy either this wants or that but not both
Economics Problems & Its Rising
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