The "economic problem" is that given scarce resources, how do large societies go about answering the basic economic questions of what will be produced, how it will be produced, and who will get it.

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The economic problem, also known as the basic or central economic problem, arises because resources are scarce while human wants are unlimited, leading societies to decide what to produce, how to produce, and for whom to produce.

The "Economic Problem" Is That Given Scarce Resources, How Do