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| 1. |
State any two causes of economic problems. Or State two features of resources that give rise to an economic problem. |
| Answer» Causes of Economic Problem:(i) Unlimited Wants:(ii) Limited Resources: In economics, scarcity means that commodities and resources to produce goods and services are less in relation to their demandORCharacteristics of resources are :-1. Resources are scares2.They have alternative uses.These are the scarcity which give rise to economic problems. | |