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Ever thought about what is the #1 problem all countries face? I searched and multiple sources said that an economy's number one problem is scarcity. There is an unlimited demand from humans but there are only limited resources. It becomes now a problem when the government has to answer these questions:

1. What to produce?
2. How to produce?
3. Whom to distribute the product?

With limited resources, the government has to decide on the most profitable product to make. They have to find a way where they minimize the costs but maximize the profit. But then they have to ask themselves who should benefit from the end product? Some government decide based on wealth. If you are rich, you get the best products or services. Some governments distribute it equally or based on needs but this usually happens in totalitarian authorities. Some governments mix it up and give some to those in need but also to those who pay taxes the highest.

There is a lot of reasons why this problem can't be solved for good. One is that there will always be needs from people. The population keeps growing and growing. The resources keeps on dwindling down. Not to mention corruption. Will there be a time where we would all have to literally fight for resources?

The population keeps growing in mainly developing nations. While developed nations are facing demographic problems. Their population is ageing, and the young generation is not willing to produce more babies. In China, Japan and other countries the younger generation are not giving birth due to the high cost of raising children and past government policies.  

The world's resources is enough to feed its entire population. Every day there are discoveries of raw materials in different countries. The issue is that only a few people control the majority of global resources. The fight for resources is already on. If you want to get out of poverty, you would have to fight to get your own share of global resources.

We are very fortunate to know one of the ways of benefiting from the world's resources, by accumulating Bitcoin.  

We all know scarcity is real, but I think the bigger problem is management.
A lot of countries have enough resources to keep everyone comfortable, yet we see waste in one place and shortage in another. It’s not always about lack. Sometimes, it’s bad distribution, greed, or corruption.
If leaders used resources efficiently, planned long-term, and kept the process transparent, scarcity wouldn’t feel like a permanent crisis. The danger is, when people lose trust in how resources are handled, they start competing aggressively for whatever that is left and that’s when conflicts happen.
Maybe the question shouldn’t just be “How do we produce more?”, but “How do we share better?”

It is very possible that there will be a time like this considering that resources in the world are reducing in supply enough to carter for the increasing population. This is why many countries are enforcing strict family planning rules to restrict families from giving birth to too many children, countries like China and India,  other governments are massively creating reserves for some natural resources that they expect will be scarce soon, countries like Russia, the USA and then there are others who are seeking alternatives already for the existing natural resources so they do not get caught up in the situation where their economy is affected by scarcity of these resources that every country is depending on. Example of these countries are Norway, even China.

Countries that are actively planning ahead will not be in a difficult situation when scarcity begins.

Then a handful of wealthy individuals devised a plan to reduce the world population in various ways. They could create conflicts, crises, and economic problems which could be resolved if those individuals had a sense of humanity. However it is impossible for the world to provide equal prosperity. Social and economic inequality will always be maintained by them.

Yes, it is likely that that time will come. If we continue to allow the senseless wars that only profits the politicians. These wars have huge impact on production and distribution of resources across regions and counties. Also, if we don't apply technological innovations to our farming systems. I have read about vertical farming. These are some of the innovations that the government can partner with private individuals to develop one for the food security and sustainability of the future as population explosion is inevitable.

On the contrary for me, I think the major problem faced by different countries is climate change and probably it gives rise to other possible effect and factors like scarcity which is reasonably caused by desertification. Have we not seen that natural environments are fast disappearing due to human need to survive as the environment keeps bringing in more challenges from bush burning and forest fire increase. Scarcity has a root cause and that is climate change that has made resources for survival more challenging. creating health problems and diseases like COVID-19 that most times changed the focus and financial budget of countries.

Every country has slightly different economic problems. Developed and developing countries face almost identical challenges. In my country, the main problem lies in the inability to manage our own abundant natural resources. For example, in the case of petroleum, my country is mostly only able to produce crude oil and let other countries continue the processing. In fact, our country should be able to manage it from start to finish. However, if corruption were not present in our country, our citizens would truly prosper. Our country is even one of the largest producers of gold, as well as other mining products. It's ironic that our country remains a developing country while other countries with similar natural resources have succeeded in becoming developed nations.

Production has never been the problem of humanity, of course the issue of climate change has its own negative thought, from flooding to desertification and even earthquakes all have their effect on our environment. but however scarcity of resourced is not mainly as a result of environmental degradation, this is because most country of the world have Arable lands for production, this is including natural resources like crude oil, Gas, uranium, granite and so many you could think of, however the major problem has been the mismanagement of the resources that come from the production of these materials by those that are in charge of managing and supervising those resources . assuming though not conceding that some of the problems are coming from environmental degradation, now how effective have the government been so far in using the money they've been getting in taxes and other revenues they've been generating in fighting some of these environmental problems over the years, you will notice that they've done more of Media propaganda than actually fighting environmental problems in the communities that are affected.

Of course the state has abundant resources, indeed the problem of every country, namely the economy, there is permanent, if the mafia cooperates with the government three points above will perish, there is nothing to be produced again.

The reason is simple export export exports is more cruel than war, they will sell products and take all resources from within the country and sell abroad, which adds to the economy is no longer the state and The people, but on the contrary a handful of mafia, that is what often happens in every country, it's no wonder that we often see countries screaming about the economy.

I am sure that if the export mafia is not active in certain countries, I am sure the economy, production, easy raw materials and economics become number one, for example: Singapure they are small countries without resources, but rich countries, abundant economies, export mafia outside play there.

Since day one, scarce resources have always existed to cater for the unlimited wants of every nation. That is why each nation needs to choose or vote for a leader who is aware of this reality and ready to plan ahead for the next generation.

Unfortunately, in most African nations, leaders are often chosen based on their wealth rather than their experience, economic skills, or strategic vision. Many are elected because of their ability to manipulate the system to attain power.

There is no nation that can achieve its economic goals under very corrupt leadership
Without economic skills and visionary leaders, resources will be mismanaged. Deciding
What to produce, how to produce it, when to produce it and who will benefit from is produced required wisdom and effective managed

Now you are tilting towards corruption because if you allude that taxes are not being utilized to manage the challenges of survival including how climate change has worsened it from health related epidemic and diseases to creating bad environment, it means there are actually no specific or one cause problem of every country. For example third world countries where developed countries seek to acquire raw materials ( to better their economy), have those raw materials in abundance but are not able to manage it. They are not able to, not because the leaders are not gifted in understanding and knowledge but are corrupt and delusioned to do the right thing. So you see mismanagement and corruption can also be said to be major problem to certain countries. Like for example in Nigeria, there are abundance of natural resources in Nigeria but bad governance has not allowed for proper use of them to benefit those living in the country. Natural resources or whatever kind of resources are not scarce in Nigeria, including human resources but good leadership is what is scarce in Nigeria.

Every country's problems are different and cannot be generalized.
Poor countries need investment because they struggle to attract investors. Investors believe they will struggle to develop because poor countries often suffer from mismanagement. Rich countries need people because they are experiencing a shortage of people due to low birth rates.
However, the labels given to each country reveal how they address their problems. Rich countries have successfully addressed them, developing countries are struggling, while poor countries have failed.

We already are fighting over resources. The West for example are overly invested in Ukraine yet Putin is unbeaten and might take the country for themselves to which the West has to fight over the resources they want from the country. Knowing that Ukraine has what they need like the Lithium for batteries, the war could get worse.

Africa has a ton of resources so look at what they do to the countries in there, to this day not their own country is taking the benefit from what they have. But their resources keeps the economy running though.

There will always be need for people and the population will definitely continue to grow, but I think that's is not suppose to be an issue on the distribution of the global resources. The main issue is management and the few people that are in charge of distribution. I believe there is enough resources to go round, but the few aristocrat of the society are happy to share it amongst themselves while the masses suffer.
The right to control the resources is a way to control the citizens especially in developing and underdeveloped states. They keep them people in poverty in other to control them. So I don't think the issue is the dwindling of the resources or because of more people, but rather the corruption and greed of the few people charged to distribute the global resources.

To wrap it up in a single sentence, since we are talking about countries: what is the competitive advantage you've got over anyone else - this could come in many forms. Let's look at some examples, India has a large English speaking population and they are trained to a reasonable level when it comes to IT which allows them to offer a wide range of overseas calls handling at a cheaper rate than many other nations. Saudi arabia is the world's largest producer of oil, which has allowed it to become immensely rich. China, among many things, is able to extract rare metals for use in many industries. In an age where any country can manufacture generic cake product ABC or produce a basic phone, you need to really squeeze the maximum potential out of any field you can.

Well the government of my country knows
+ What to produce, even how to produce it and they very much know who to distribute it to and yes they are doing that and getting big money from it but the problem my government have is that they are used to mismanagement of funds and they also are quick to privatise government owned establishment.
The world is now smarter I don't think any government are ignorant about the available resources they have and what to do with them but selfishness and greed from the government is always the problem.

If a country cannot manage its resources properly and the number of people in need increases, it is very likely that competition for resources will occur. There have been many cases where a country's inability to manage its resources has created serious problems, and because of this, more nations now understand the importance of better resource management, such as diversifying their economy, developing environmentally friendly technologies, implementing fair distribution policies, and even limiting the number of children per family. These measures are taken to reduce the risk of future resource scarcity and prevent countries from facing crisis situations.

There isn't really unlimited demand. There's a concept called marginal utility developed by the early Austrian School of economics. The more you can get from a concrete good, the less you'll perceive a benefit from it.

Let's say McDonalds sets up a promo where you get 1 hamburger for $3, and then unlimited hamburgers for $0.50 each. How many hamburgers would you order? That shows that even if the original value of the good is $3 and you could get it for much less, you would have a limit where your marginal utility (the benefit of an additional burger) would fall under $0.50. Some would order 3-4 hamburgers because that's all they can eat at that time, others 10 because they store some in their fridge. But nobody would try to get a million.

For most goods there is indeed more demand than supply though. But humans normally allocate that quite fine with their own actions. If people want bread, someone will create a bakery and sell it to them. The government is only necessary if there is some imbalance somewhere. Some communist countries indeed wanted to delegate all that work to the government, but that has often failed because the process how markets work is extremely complex.

some of these theories have gone obsolete because in reality, Bad leadership is the number one cause of the poor economic policies we are facing in the world. if we have good leaders that knows what governance entails, then the issue of trying to identify what to produce, howto produce it and for him to produce it will be the last thing we will even talk about. when we continue to look at these basic economic issues as what is causing our decline in economic growth, it only tells that we are not growing as a nation economically.

most nations that have managed to solve the major part of her economic problem first made it right in the delection of her leaders and the leaders on the other hand implement policies that helps the nation recover from whatever bad econmic policies that has held them back in the past. even when companies and private institutions try to set out modalities to grow, they can not really thrive well in an economy that is bad because whatevr policies the government set up affect every sector that is under the watch of the government. resources are available but they are managed by the government and if the government does not have the abillity to manage the resources well, what then becomes of the economy of the nation even when they have enough resourse that should have normally helped the nation? most of the third world countries have a struggling economy because they have missed it in their leadership level.

The biggest problem in the economy is distribution. If you see, the rich are getting richer and the poor are getting poorer. The main reason for this is corruption in distribution. Can you tell me what percentage of the wealth distributed by the government reaches the right person? My answer would be less than one-fourth. The remaining three percent goes to the influential or those who distribute it. Then think, how will the common people of the country who are below the poverty line improve themselves?

In some countries, talent is also not distributed properly. A talented child from a poor family does not get the opportunity to contribute to the country with his talent or does not get the opportunity to improve himself. Most of the opportunities are given to those who have a lot of money and can pay bribes. I think that due to the flaws in government management, some people cannot use their own resources properly or cannot protect the right part of their own resources themselves. The main problem in the economy today is the government system or distribution system. If the distribution system is managed properly, then the proper use of resources is possible and the necessary resources will be provided to the necessary people. Currently, there is no other option but to fight to get your share. Either you fight or endure.

This economic issue is sometimes solved naturally through price inflation and increased production, without government intervention — when things start getting scarce, prices go up and people start buying them less. High prices become attractive to new (and old) producers who start entering the market to produce more, take care of the growing needs and possibly bring down prices. Unfortunately if demands keep growing at a higher pace than producers can supply, prices remain high.
Ofcourse, there will eventually be chronic scarcity that will cause widespread starvation or make scarce things become unavailable/unaffordable for majority of the people. And there will likely be long queue or people struggling for the little that is available

In other words, the main problem of economy is the fact there is a minor group on the top of the pyramid which take advantage of the rest of society in order to maintain their status and benefits along several generations.

Things are constantly getting more difficult for the average citizen, because they have to pay the price for the tier 1 group, which can never face the same challenges and difficulties of everyone else.

Money and influence move socities, so the ones at the top use those two main factors on their own favour to manipulate society's dynamics.

After all, what really matter for me is that it's not going to change anytime soon, and the only thing I can do is to find gaps on this wicked system in order to try improving my life standards at least a little bit.

Bitcoin was one of those gaps years ago, and just like BTC, there must be others hidden around. We just need to be attentive and intuitive to find them on the right timing.

We live in a very connected world. The best and cheapest thing to do now is to provide quality services. Massively educating the population towards expertise in all kinds of computer fields. This does not require much investment compared to say some big manufacturing. It takes good education and time.

A lot of the population is not really trying to improve their position, while at the same time blaming those at the top and other things for their situation. Sure things are not that great, but who is preventing you from becoming an expert in any top paid field? Nobody besides yourself. In some fields you require money for formal education, but for many IT things all you need is an internet connection and discipline. The internet connection is widely available, the discipline is the problem.

Talking about economic problems, it's clear that this is a common issue, and it's likely experienced by all countries, including developed ones. Lack of jobs and difficulty earning income are factors that contribute to many people's economic hardship. Regardless of who leads the country, we still stand on our own two feet, and we determine our own destiny. Therefore, we should do what we can, such as fighting for resources.
I previously thought that those in positions of power and positions of power wouldn't have economic problems, but in reality, in my country, there are still quite a few corrupt government officials. This indicates greed and a desire to improve their own economic situation, but these actions are resented by many.

Yes and it's happening in our country. Instead of being allied with most of the neighboring countries, our government is trying to put up a war and become a dog to the USA against China. It's all about the resources that's near to our country, to our shores and even for Taiwan which is all about semi conductors as the best to produce it in a global setting. We're already fighting for our resources and imagine that we're a country that's rich in land and minerals, we should have been harvesting and feeding the entire nation with our own locally produced rice but, look at what the government is doing. Importing rice from India and I think even chickens from Brazil.

While this is true, resources are limited, and the real problem lies in using these limited resources effectively. You mentioned corruption, and I believe this is where the first problem begins. Then there's the income distribution and improper distribution.

Many sources may have said it because of those who want to call it a scarcity, and yes, scarcity is a problem, but we shouldn't attribute the global economic downturn to it. With sustainable production and consumption, these problems wouldn't exist, but leaders don't want that.

This is something what India did with their resource of population, created engineer and service based career that mostly to work for cheaper salary to other western countries and I will not say it's bad choice, it is what helped India's middle class to grow to the next level but it has saturation point and now we can see what will happen if service based employment is the sole one's available but that is going to be replaced by something called AI on most occasions that will leaves the remaining with no opportunity other than to gain something new and starts from the beginning.

Scarcity is considered as a major problem leading to inflation and poor economy development, we can’t say same for every country depending on their problem. Scarcity can be dealt with firstly the government is not always in charge of common products yet there’s still scarcity and we need to study why, what usually leads to scarcity of local products meanwhile involving the government we all know their common aim either for self benefit or to satisfy just few people.

In terms of what to produce I observed underdeveloped countries are always affected mostly the local produce, we all know if things are not right with the locals there’s definitely a problem meanwhile average citizens still struggle to meet their ends meet. What to produce might not stand as the major point rather how can a country generate multi income from that produce firstly it’s impossible to sustain a country with just one produce reason why mono-economy country finds it hard to make progress. Basically when a product is considered scarce people find every means to own one so instead of complaining why not search for a unique product for example oil, agriculture etc and work towards the development.

I think it's all about corruption. Because even the small countries like Japan that aren't big and rich in many things yet, they're able to grow their country economically. And they're also growing their own source and that's the reason why they're a first world countries. Corruption isn't tolerated there and if they're facing an economic crisis, they're doing all sorts of solutions to help the even smallest citizen in the society. Their yen has gone down for the past years but they're starting to recover now. So, it's up to the leadership, and how corrupt practices are rampant into a country.

The governance system of Japan teaches a lot especially in controlling the menace of corruption. They have demonstrated that they have not had much natural resources but can go on to develop by sticking to integrity, hard work and innovations. In my opinion, the greatest challenge facing most of the countries which are deep in corruption is loss of confidence of the people whose subsequent catalysis brings about low economic development. Corruption deprives people of money that are meant to ensure an improvement of their life standards causing poor quality development to occur.

Even Japan was going through hard times including the economic crisis and the weakening yen, yet they dealt with these challenges with specific policies that propelled their citizens needs in mind. Compared to those countries where corruption remains to be a great issue, it is more evident that money is not the sole capital to progress. What is more important is clean governance and the strength of acting decisively against violations on every level of government. It is necessary to understand how without such a commitment, even the most constructive economic policies will hardly be able to achieve optimum outcomes. It is only when there is a strong leadership to ensure there is a clear example of leadership that will be indicative of honesty and good governance.

The citizens that are from corrupt countries with bad governance is that, it seems have been a daily thing for them and they have been used to it. If they are not going to do something to fight that for, they'll forever stuck on it or else fly to another better country while leaving that corrupt country. That's the sad truth that the voice of the little citizens aren't heard while the corrupt officials enjoying their stay in power with the money that they can steal. A government with a strong political will can endure all the hardship that they're facing economically and at the same time, have the will to eradicate corruption that stops them from progressing.

Economics teaches that human wants are insatiable. There are needs that we can't avoid from committing to and meeting them daily and with the population growing the needs and means to satisfying them become competitive.

But there are countries with no high population and are statistically not doing better in their GDP. We have such countries there in Africa small in size and population but lacks the undertaken mind to strategically maximise the resources they have to self develop but prefer to loot sell in crude than refine on their own for higher value

I don't believe that scarcity is the number one problem. Amartya Sen argued that it's not the lack of food that's the cause of hunger; it's the lack of access. Therefore, the solution shouldn't be focused on "what to produce" or "how to produce" but on making sure everybody has access to what's produced.

My country, for example, as many would note, isn't poor. It's that many don't have access to the abundant resources. The resources are there. It's just that they're only made available to a select few.

It's not scarcity but the structures and systems in place that are the biggest problems in economy.

Government is capable to solve any economy issues that is affecting their country without borrowing fund from any country to solve the economy issues.  There are many infrastructure in the country, that will make the government to look into  to start financing those infrastructure that will be bringing income to the government account to boost the economy, which is every country priority to see their economy growing higher. Country when things are not working well, government don't fold their hands and see their resources dwindling down in that country because they know what to do to revive the resources in a way it will not cause high inflation in the country. Corruption is the major problem that is making some government not to handle their economy very well, some leaders reason is the government property and there is nothing for them to benefit from the progress of the economy than to allow the economy continue going in a wrong direction in the country.

The problem is people, anyone including myself. This problem can't be solved because it's already like a nature, if someone want to be rich, there's need someone to be poor. Since almost all people in this world want to get rich, hence so many people are poor.

Me, I will order a million and sell it under my brand. :D

People always blame their government for corruption, but they didn't even realize if they're also a corrupter!

Example arrive late, it's a corruption in time.

You help your friend to sell his product for $80, but you sold it for $85 because you can find a customer who willing to pay that, then you take the $5 and give the $80 to your friends. It's also a corruption because you're not honest with the price you sold.

Three basic questions are often asked in microeconomic theory. But when discussing the economy and the state, failure to answer these three questions is clearly a symptom, not the primary problem, nor the root cause.

These three questions become relevant if institutions are sound. If the law is weak, corruption is high, and the market is full of cartels, then decisions about what, how, and who will benefit the elite, not the welfare of the people. So the initial problem is institutions and governance, not simply production choices.

Decisions about "what, how, and who" are often constrained by historical economic structures. Former colonies are trapped in a reliance on selling raw products because their infrastructure, human resources, and connectivity only support that. Therefore, the choice of what to produce is not free, but locked.

How to produce may be ideal in calculation, but if access to energy, technology, or skills is scarce, the country lacks that option. The initial problem is production capacity.

Distribution (whom), meanwhile, depends on political power. Even with sufficient production, distribution can be unequal if the tax and transfer system is weak. So the initial problem can be an imbalance of power.

The root of the problem lies in institutions, the rule of law, political stability, human resource quality, and technological capacity. This then leads to the next symptom: the inability to accurately answer the "what/how/whom" questions. This results in slow growth, unequal distribution, and social dissatisfaction.

Corruption is indeed a big problem. And everywhere and always. I remember reading Lee Kuan Yew's book "From Third World to First: 1965-2000: Memoirs of Lee Kuan Yew. The Singapore Story" and although I didn't finish reading the book, I remember how he prosecuted even his friends for corruption. Therefore, Singapore is no longer a backwater, but a rich financial center. In those countries where corrupt officials are actually punished, the economy immediately becomes efficient.

Many experts predict that a global population decline is coming in the next decades. The population in the underdeveloped countries would also start to decrease, due to lower birth rates and mass migration. I don't believe that the future global demographic situation would force entire countries and nations to fight for resources. It's better to just buy and sell resources, rather than fight for them.
The number one problem in every economy is productivity. How to produce more with less. The number two problem of every economy is redistribution of resources and wealth. Equal redistribution isn't fair. All the lazy people shouldn't get supported, just because they exist.
If you contribute to the creation of products and services, you must be rewarded for your efforts.

It's an attitude and you can say that it's also corruption but nothing is corrupted from other people. It's only the one person that loses his own time.

This is not corruption, IMHO this is honest living. $5 commission, I don't think that's a corruption in there. As long as you and the actual seller have agreed that you'll get a small commission on the sale, that's fine. This is happening in all of the trades and selling of everything. There's always the mark up that everyone does. The corruption in the government is using people's money for something else or pocketing them to steal.

In my country, what causes economy problems is the rise of petroleum, fuel and other gaseous substance, once the price of these chemicals go up, then the economy is in doom where it's hard to solve the problems, everything rises in price even a product that doesn't use fuel to function.

The amazing part is that, the government officials never care much about this but always come up with fail projects to lift this matter.

Exactly!!! Resource scarcity are an problem that all governments face, even those like mine (Brazil) where natural resource are quite abundant... its impossible produce everything that we consumE.

The curious thing is that this logic is applied to several other resources, such as time, people's attention and evencredibility... economies prioritize those who pay the most, socialists distribute (as you rightly said), but neither can solve the problem but only manage it.

And you know that not all scarcity is bad, right? For example... In a few years, we will have this same "problem" with the Bitcoin, which has a limited supply of 21 million... demand will grow even more, and we'll have to "fight" for this resource.

I think the real problem was never the end of scarcity, but rather how to learn to deal with it in a way that is less unequal and more sustainable... whether in natural resources, industrialized resources or anything else.

I would say, it's taxing and the wrong way that we are doing and the power that companies have that makes it even harder to tax them. Simply put, let's say USA decided to tax tesla and amazon like crazy, like 90% of their profit etc, they are just bonkers, obviously you shouldn't do that much, but let's say that they did, you would cover so much of the taxing that you would give tens of millions of people tax breaks, hell under certain earners could get no taxes at all.

But do you know why that doesn't happen? Not because we want companies to grow, or hire people or anything like that, no. We don't do it, because those companies say "we will get our HQ to somewhere else, and pay less taxes here", so you literally lose tax, when you try to earn more tax.

Companies have too much power. Any company that makes more than a million dollars per month, should be paying high taxes. Instead? We pay subsidies to poor people who work at amazon, so we pay amazons taxes back to amazon to help them pay their workers basically.

I would say be mostly about corruption most of the time but I do agree with that management is something that we can talk about its relevance. Same here in our country on which we do keep on importing something or goods and other natural resources but if we do tend to zoom out that the country itself is already have that abundance of it. Why is that? They are that aiming to export in other countries to make more money instead on trying out to circulate it out on the country itself and benefit from it in terms or economic development. There might be still some exports but it shouldnt be that totally be in majority into exporting but rather it should be done on utilizing the resources and other things on which that would be benefiting out the overall economy. I can definitely say that this has something to do with corruption too on which they are that wanting to have that more money instead for thinking about in overall benefit and some sort.

This is where we can see different countries does have that different situations or conditions when it comes to economical aspects on which it will be that having that main difference depending into the governance into its leaders or simply on how its been run. Progressive one and the one doesnt have any development at all.

Corruption is indeed a problem, and I see it occurring in developing countries. Many still prioritize individual or group interests over the state or society. In my country, corruption remains rampant and very difficult to overcome, perhaps because there are too many irresponsible individuals.

Well, I think one way to address this is by improving the public's intellectual capacity. In my country, the lower-middle class is easily manipulated, especially during elections, for example, when they vote based on the money they receive from prospective leaders.

While rising prices are certainly a natural occurrence, they can sometimes be a significant problem for lower- and middle-class people. Given that everyone's economic circumstances are different, some are prepared for price increases and don't think much about them because they can afford them. On the other hand, those in the lower-middle class may not be prepared and may protest to the government, but this often doesn't lead to any improvement.

From my own observation the number 1 economic problems of undeveloped countries is mismanagement, if a country cannot manage the resources that it has their economy will suffer. It's not so much about the basic question of what to produce and whom to produce it for but the main focus should be after trade and commerce how do a government manage their resources? There are countries that are rich in manpower, intelectials and mineral resources yet their economy are very poor in the abundant of what to produce and a thriving market. When an economy is run by corrupt leaders who mismanage their funds and makes poor decisions that is the number root cause of economic problems.

This is already (always) happening. Right now, all of us (those who know about bitcoin) are "fighting" for this limited resource.

It seems to me that the most important question that any government 1st of all decides is "how to hold on to power for as long as possible".

In the conditions of limited resources in which we live, there will always be a shortage of resources, and, accordingly, an uneven distribution. The closest example is bitcoin. Look, someone doesn't have a couple of satoshi, and someone has hundreds or even thousands of bitcoins. The same thing happens with traditional resources: money, land, minerals, and so on.

This is one of the extracts on our issues we face.
We need to adapt that is the only way out.  No mars in sight.

This is also the main reason of economic problems for me. Our country despite of being a third-world country is considered to be a developing country in Asia.

We are rich in seafoods and agriculture that we even export some of it internationally and yet why does our governement rely and suppoort more the imported products from other countries.

This is because the government would earn more because of kickbacks from imported products.

That's composed of two things, but I think these two reasons, corruption and high petrol prices, really are the main drivers of a country's economy.

From food to manufacturing, everything needs to run through fuel and even the energy and electricity. Welp, in developing countries people are aware of what kind of leadership they have.

And so, the only thing that they're leaning on is themselves. The opportunities that they're the ones looking for and for them to get as much resources that they need. Instead of the government to be there to help them provide.

Most of the resources on Earth are practically unlimited even if limited in theory. Humans only ever tried to extract oil and minerals from the outermost 1% of Earth's crust, why? Not because they couldn't. They are already providing the right supply for the current demand. If demand increases, they'll dig deeper.

The concept of marginal utility which was mentioned here before is also important. "Unlimited demand" in your terms is not true, it's an ever-decreasing demand as one's needs get filled.

It is obvious that the economy problem of any country lies to the leaders of other particular country, the governing Council of that country with the side or determine things that we profit the country, do you know that what collapses a country economy is when they don't have a fund reserve, most of the country does not have a fund reserve to their country and that is why there are economy get worst every time or whenever they economy is bad they don't have anything to resurrect their economy

They can create things that can generate a funds in the country, especially  been innovative by using a manpower or equipments that speed up their product in order to make her nation to have a good economy.

Because the ones elected in power are not intelligent enough. Not only that but the ones in positions are also corrupt. So they purposely come up with failed or ineffective projects to fund their own pockets instead. Corruption really is the poison of a country

Theoretically, this is correct and limited; you cannot argue with it. Resources are limited, even if you continue to explore, you will eventually find their limits. Resources do not grow, but they decrease as they are used. The larger the human population, the greater the demand will be. That is how it works. Some people are already aware that resources are limited, which is why so many people are researching renewable energy, looking for alternatives to existing resources. It's not because they are greedy, but because they know that what is on earth will definitely run out if it is continuously exploited.


They are not creating failed projects, but rather successful projects, only for themselves, for their own interests and those of their groups. We often see this in many corrupt countries, where they do not care about the general public or communities that have no interest in them. Most people who hold office today in corrupt countries do so to maintain, strengthen, and expand their personal profits. We know that entrepreneurs can be pressured by the government, but if entrepreneurs enter the government, they will easily set regulations that only benefit themselves.

Meanwhile, the economy of the general public is not a major concern. Today's leaders are saving their own stomachs and do not care about the stomachs of the lower classes.

It is undeniable that corruption is a poison to any country but it must be known that running a country is not easy when having to deal with not only domestic issues but also foreign affairs (diplomacy) issues.

Don't just blame the government if your country is facing difficulties, unemployment or poverty, and you don't even know the strengths, weaknesses, potentials and challenges your country has and faces.

If you think leaders are not smart enough. If you are the leader of a country with no natural resources, no technology, no infrastructure and is being fought over and destroyed by the great powers. Or if the superpowers impose an embargo, trying to isolate you from the world like Cuba is experiencing, what would you do if you were president?

Leaders and governments are responsible if a country becomes poor, but running a country is more complicated than we think. We should find out the problem, the cause and give a fair assessment instead of just blaming them completely.

This is also one of the problem that we are facing in my country. Rises in those chemicals substances also contribute to the inflation that we are facing now in the the country. The government knows what needs to be done for everything to go back to normal, but they are doing nothing about it. They are actually not helping the situation at all. We have mineral enough resources that are more than enough to make the country grow and develop, but they are misusing them. I'm aware that some people will said that is not the government fault, if not the government then who's fault is it.

Every country is formed on bunch of trading centers which formed pretty much self sustaining network. But these days, to trade between other countries, demand can be bigger, or already saturated so that it's cheaper to just buy it from other countries then produce.

I don't think that the scarcity is a problem there's more then enough for everyone. Problem is that there's 4 people in the world have more wealth then rest of the world combined. And that there's this expectation of ever expanding growth, which isn't sustainable.

In all noteworthy governments a rich people / ruling class gets to buy best products. It doesn't matter if you live in social democratic, republic nation or in authoritarian regime / communist society where the wealth and power is centered to small group of people.

And we have been already fighting for the resources since the start, it's just not make sense for individuals to fight for them anymore, as it would just destroy countries from inside. Together we are stronger, so it's the countries that fight over them.

The costs and the environmental factors come in to play. There is demand but not at the price required for such operations and negative externalities.

I suppose you are referring to Nigeria my country. Our problem has been subsidy and corruption. You see, fuel isn't cheap in all places, even in the countries that are the biggest oil producing countries doesn't but fuel/gasoline very cheap. Here is our problem and things that has been going down:

We soley depend on oil for our revenue, this is the biggest place Nigeria generates its revenue but was subsidizing the one sold to the people in the country, reason is that we are as a country we are don't have much money to feed and cutting down the price will help the average person live a simple life but the subsidies momey wasn't really doing anything, they are been stolen by cabals. Now that the government has decided to remove the subsidy, the average life of a common man isn't longer the same, everything is just hard because everything you can mention now depend on fuel.

The latest problem we have now is the removed subsidy is no where to be found, don't know where this government is going but we will found out if they get out of office.

To be fair, that is true for car manufacturing and phone manufacturing in most cases. Whatever requires a chip basically, like GPU's for example. Because if you need to buy chips, you are going the giants like Nvidia and car companies and all of that, instead, you have to build your own, which costs 20+ billion dollars, and takes many years of R&D which you may never catch up.

So why deal with that business, when you can just get it from other nations for cheap, put low tariffs on those special items, and get it for cheap. Hell, some people around the world (forgot the nation, was it Thailand?) can get iphones cheaper than Americans. Because chips are near, factories are near, so it's cheaper that way instead of traveling all through many oceans.

By saying this, you ignore the new world order based on globalization. Nations in different areas of the earth can't satisfy all its needs alone. Each country needs resources from other parts of the world which force them to cooperate all together to realize Sustainability. In the other hand, nations who has no problem producing unlimited supply in any product would't benefit from it without exporting it to other nations whom in turn will exchange with other resources. Yes the scarcity is a problem but not without a solution.

Are you aware that most bigger Car companies use SIM Cards in their cars?
More and more there are special services purchased additionally over bookable subscriptions for more CV, faster engine settings and such. 

I am unsure that what was that counterargument to, or if it's even counter argument as i wasn't talking about tariffs.

Because it still doesn't rule out the fact that rich people inside those economies get to buy better products, just like in your country. It doesn't matter if they get them cheaper in overall comparison to you. It's still very unlikely that poorest people would buy state of the art top-notch technology, when they can better afford cheaper models (if they can afford even those).

It seems that this situation occurs in almost all countries, but not all countries or officials are indifferent to policies or current events. Some large countries that are serious about their development always do their best, but this is not the case in developing and underdeveloped countries where corruption is still rampant and some officials and politicians sometimes act solely for their own personal gain. Ultimately, this situation like this clearly become different.

The issue of price increases, especially for fuel, as well as several economic problems caused by food exports will clearly have an impact, but what distinguishes this issue is the role of the government because it can have a significant impact in the end .

If we don’t have enough resources, poverty will continue to arise, which will put these poor people having the least advantage. Corruption happening in the government is also one of the biggest reasons why the economy continue to fail. They don’t spend the money on cultivating those resources, but they fill in their pockets instead for their own greed for wealth. Unfortunately, this is happening all over the world, and until now this hasn’t been given solution because the government officials wouldn’t allow it too for personal reasons.

World is always full of opportunities and sources, but sadly things have never been in balance due to personal ego and many other factors that are always present corruption it's nothing new, but the fight for control can also be hurtful and create conflicts.
If a country lacks sufficient sources it needs to work on creating them because if they fail they will face problems that can threaten their freedom many examples of countries have done development and now enjoy some success, but many issues remain unaddressed due to domestic problems.

A country wants to live with authority they must always work hard and achieve their goals because they love their freedom and respect for it.

The most fundamental factors recurring in many countries are extractive institutions: weak state capacity, selective laws, and oligarchies born of a history of exploitation (colonialism, slavery, war, land grabbing), which are then maintained by socio-economic inequality. Although economic problems arise from many interconnected factors and create a perpetual cycle of poverty, I believe there is a priority order that must be considered to untangle the knot of economic problems:

1. Guaranteeing basic security/minimizing criminal violence. This allows social and economic activities to proceed.
2. Legal certainty, a capable state, and pro-public regulations.
3. Special attention to nutrition and public health so that the economic impact is quickly felt, especially by future generations.
4. STEM-based basic education, ensuring students truly learn, not just attend school.

These four main pillars shift incentives, establish productive work norms, and pave the way for economic diversification. After that, downstreaming and new technologies are truly effective.

Number one economy problem is that fact that those in the government try to keep the level of the education of their citizens very low, which in turns results in dumb people and dumb people are always a majority, they also always make wrong decisions and sadly, they decide the fate of the rest. Also, the system is designed in a way that it keeps you a slave. Rich people are getting richer, poor people are getting poorer and they also have to work more for less pay. Resources are not really the problem, the problem is that a few people have billions of dollars while they'll never use 90% of that in their life. If people were honest, then world would be a heaven.

Governments doesn't really need to answer these questions since there are entrepreneurs who would sharply identify the needs of people around and turn it into a business activity.

This is why the private sector is very important to coexist with the government so they can provide supplies of direct consumers need and make a living from satisfying clients and revenue for the government.

On the other hand the government is needed to regulate their activities so their actions are properly guided in the interest of the public they serve.

It is very common for a country to face economic challenge, but when this happens the government in charge have to act accordingly to remedy the situation.For this to happen, the government have to build some factories, lias with investors and entrepreneurs in order to improve the economic situation of the country.When the economy is good, it brings job opportunities, there is increased productivity and exchange of goods and services is balanced, thereby making lives easy for the people.

It's a known fact that scarcity is the main problem for evert economy,  but management is also very important. Some countries have a lot of resources that can cater for the citizens,  but those in charge of managing the resources are just being greedy and only think about themselves, that they forget about the citizens.
They share this resources amongst themselves and the citizens really don't get anything from the resources,  that why they keep struggling and we begin to think that the resources is scarce. In my opinion I think the main issue of the economy is management.