The Basic Economic Problem Is

question 48

Multiple Choice

The basic economic problem is

• A) a lack of money.
• B) a lack of jobs.
• C) poverty.
• D) scarcity.
• E) a rising standard of living.

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Definitions:

World-Renowned Authority

An individual or entity globally recognized as a leading expert in a specific field or subject.

Physiological Needs

Basic physical requirements for human survival, such as air, water, food, shelter, and sleep.

State Of Balance

A situation or condition in which different elements are in the correct proportions or in an equilibrium state.

Establish

To set up or found something on a firm or permanent basis, often referring to institutions, organizations, or systems.