The fundamental economic problem in every society is?

By: |Published on: Apr 18|Categories: Economics WAEC| 0 comments

A. the large number of the unemployed
A. Limited supply of productive resources
B. inadequate supply of money
C. corruption and mismanagement

Correct Answer:

Option A – the large number of the unemployed

Explanation

The fundamental economic problem facing all societies is the problem of scarcity or limited resources to satisfy human wants. As we all know, human wants and unlimited, and the resources meant to satisfy these needs are less than required.

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