The Basic economic problems of society

[aysha9853]

These questions work in theory but do not explain real economies countries fail because of bad policy weak institutions inflation corruption and conflict not because they cannot decide what to produce, the real issue is trust and coordination.

[lizarder]

The basic economics problens of society arise because of scarcity of resources.
Every society has to address three basic problems of daily living namely: what commodities to produce;how to produce them; for whom to produce these goods and services; and how to distribute. It must ration resources over time as well as maintain the current level of output and strive to achieve economic growth in the society

The issue of production or how to produce is only a small matter for individuals engaged in business, but if we look at broader issues, such as economic problems that arise in every society, they are caused by a lack of purchasing power caused by the lack of accessible financial resources for circulation which can impact the lives of the community at large. Economic problems are becoming a major gap today because the average person is struggling to find a source of income, and I see the current situation, especially in my area which is experiencing a disaster.

When there is no stable source of income, purchasing power will decline, and this can be problematic for the community's livelihoods. Economic inequality will become a much bigger problem when society lacks solutions to overcome this problem. Then the question arises, how can this be overcome so that people can live much better lives over time?

[gibrab16]

Yeah, this is basically the foundation of economics. Scarcity forces choices, and those three questions (what, how, for whom) never really go away. Different systems just answer them differently. Markets use prices, governments use policies, and mixed economies try to balance both.

[Dick Long]

Our society is faced with different things that challenge the economy greatly.
This economic problem are cause by different things which varies from my high level of poor life style, demand from customer of different needs, provisions  of financial support for citizens, producing to meet customer demand.

[GIF-JOBS]

The basic economics problens of society arise because of scarcity of resources.
Every society has to address three basic problems of daily living namely: what commodities to produce;how to produce them; for whom to produce these goods and services; and how to distribute. It must ration resources over time as well as maintain the current level of output and strive to achieve economic growth in the society

In addition to the three economic problems mentioned above, some other important fundamental problems in a society include the lack of an educated population. If the citizens of a country are not educated, they will lag behind in terms of production, and as a result, economic development will not be possible. If a country's government system is not good, then economic development is never possible in that country. Leadership and good management play an important role in preventing corruption in a country. The less corruption a country has, the more economic development is possible.

But is it really possible to completely prevent corruption from a country? Corruption is a common problem in every country, and corruption is always there. If it can be completely prevented in some way, then a country will definitely improve a lot and that too in a very short time. When the government sets a budget for any development, that budget falls into corruption and ultimately reaches a level from which the people do not get any effective benefits. For this reason, corruption must be curbed first for the development of the country, although curbing this corruption is certainly not an easy task, but if the rules are strict, this corruption can definitely be reduced to some extent, which will play a more effective role in the development of the country.

[Cheema02]

The basic economics problens of society arise because of scarcity of resources.
Every society has to address three basic problems of daily living namely: what commodities to produce;how to produce them; for whom to produce these goods and services; and how to distribute. It must ration resources over time as well as maintain the current level of output and strive to achieve economic growth in the society

You raised the valid point about the scarcity of resources in our societies. Societies make choices about resources and must have knowledge about how to use it because humans want unlimited but resources are limited. To compete with this challenge Societies makes three economics Rules, the first is that which kind of commodities are required and how to produce it and whom to produce it. This strategy helps a lot to communities to identify their needs and method of production and also societies can decide how to use resources over time and predict future needs. So the learning point is that if we make proper management of scary stuff it will improve living standards and ensure fair distribution.

[goro_chief]

I think it depends on the ruble I think that today we live in a hyper-accelerated society that doesn't even allow crops to grow so that vegetables and natural products can undergo their natural processes. They focus more on production than on helping, which affects nutritional health in some way, something that makes me wonder how far we are capable of lying to achieve our goals

[Berry2d]

Our society is faced with different things that challenge the economy greatly.
This economic problem are cause by different things which varies from my high level of poor life style, demand from customer of different needs, provisions  of financial support for citizens, producing to meet customer demand.

The above mentioned economic problems and more are reasonable for economic downfall in different ways but that of insecurity is also a very vital factor to consider as its effects appears faster than others. For example, assuming a society's economic growth is seriously dependant on agricultural productivity and security challenges became a major challenge of the country, knowing fulling well they must get to the farms before those products could be made available, what do you think will be come of the society.