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MICROECONOMICS CH : 2 CENTRAL PROBLEMS OF AN ECONOMY — Economics STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceEconomicsMICROECONOMICS CH : 2 CENTRAL PROBLEMS OF AN ECONOMY1 Mark
Question
Why do the central problems arise in all economies, rich or poor?
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Answer

Because, (i) resources are scarce in all economies, rich or poor, and (ii) resources have alternative uses.

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