Central Problems of Economy Assignment Help

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Economy and its Central Problems

In layman’s language, the term economy can be described as a platform which offers several means to work and earn a livelihood to the individuals.

1.1 Central Problems of an Economy

Every economy whether small or big has to cope with three main central problems as described below:

Central Problems of Economics

The central problems arise due to the fact that human wants are unlimited but the resources to satisfy these wants are limited, so in such case choice is to be made.

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Microeconomics Systems - Part A

1. Economy and its Central Problems
2. Production Possibility Curve (PPC)
3. Comparative Economic Systems
4. National Income
5. Occupational Structure

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