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Question Practice

What is the main economic problem that arises due to scarcity of resources?

Attempt the question, check the explanation, and continue with similar questions to build confidence before exams.

MCQ_SA
CBSE
Class 12
Economics
Introductory Microeconomics
Introduction
Question Bank

What is the main economic prob...

Single Answer MCQ
Q-00089252

What is the main economic problem that arises due to scarcity of resources?

1

Production of goods

2

Choice and allocation

3

Distribution of wealth

4

Employment opportunities

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Q1.

What is meant by 'scarcity' in economics?

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Which of the following best describes the relationship between production and consumption?

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Q3.

Which decision-making unit primarily uses resources to produce goods and services in an economy?

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Q4.

In a simple economy, why might a family farm decide to grow less corn?

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