The Basic economic problems of society

[Oluwa-btc]

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

Of all things what you mentioned above here are minor problems that can be solve in no time but the basic problem right now in the society are what I would absolutely point out, which are bad governance. When the country is controlled by leaders with selfish interest the society is opened to more disheartening situations like corruption and again money ais another problem to look into. Therefore if there is no availability for this there's a possibility that the individuals will be in a poor state, money is one remedy and one assets that makes things work. So looking at this i believe if this problem are tackled then there's a need for betterment.

[landheer]

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

it is the right thing as conveyed, or what is needed in the basic society economic problems of society, if you think about it it seems easy but in its implementation it is difficult because it requires the cooperation of many people in realizing it, it all depends on the of the leader in supporting the smooth running of it all, the scarcity of resources needs to be resolved immediately, because it concerns the interests of many people.

[YOSHIE]

The basic economics problens of society arise because of scarcity of resources.

I have seen about the broad economic problems of the community, not lies in the scarcity of resources, the price of raw materials is cheaper in Bali by the local government to the community.

In the life of the fertilizer community and other materials for the purposes of raw materials more expensive than the results that are harvested, as well as other raw materials such as coal, palm oil and so on The economic value of selling is very cheap that causes the economy of the community to be weak, for me the government must think of the selling value of raw materials/resources high selling value so that people can enjoy good economic results, not in scarcity.

[Oluwa-btc]

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

What resources if i may ask? Is it natural resources or artificial I want to know, well I wouldn't know why you think the economic problems is caused by scarcity of resources that you didn't clearly mention but when you talk about economic problems the angle you should be coming from is inflation which has been a destructive force to the economy overtime and then you look at unemployment and then poverty and so many other area as well but this is the key angles you should be looking at when it comes to the basic economic problems of the society.

[Sticky Bomb]

I disagree! And I believe you mean the natural resources by the resources remark you made, right?

The basic economic problem is not the scarcity of resources but poor leadership and mismanagement, although the lack of the resource can contribute. We've seen many countries blessed with the needed resources and even populations that should have been used to their advantage but are very poor. Go to Africa and Asia to confirm that. And we've seen many countries with very little resources flourish. Go to Japan and Barbados among others to confirm.

You're right, the real problem is mismanagement of resources, sometimes I'm pushed to saying that over availability of these resources is even another problem since it leads to the leaders being careless and ineffective in managing the overwhelming resources.

We can understand this from the now military ruler of Burkina Faso and see what he's doing with the limited funding and resources of his country, only then can you appreciate proper management of resources against presumed scarcity.

[N.O]

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

What resources if i may ask? Is it natural resources or artificial I want to know, well I wouldn't know why you think the economic problems is caused by scarcity of resources that you didn't clearly mention but when you talk about economic problems the angle you should be coming from is inflation which has been a destructive force to the economy overtime and then you look at unemployment and then poverty and so many other area as well but this is the key angles you should be looking at when it comes to the basic economic problems of the society.

There are many reasons of economic problems in the society. I think big problem is job mindset and wasting time on degrees. Job mindset people do the job for 9 to 5 and they live life being poor or middle class. There is no benefit of country of doing job of this person. If he will start business then economy of country will be strong and he will be also free from many things and can invest time on other businesses. If you are shopkeeper then you should expand your business and hire qualified people who have experience of work and can take responsibility of work. Open new branches and you will get passive income from that by investing money in that.These employees will work and you will get almost 20 percent profit from the business by doing nothing and economy will be strong by that step.

[MRY]

There are many reasons of economic problems in the society. I think big problem is job mindset and wasting time on degrees. Job mindset people do the job for 9 to 5 and they live life being poor or middle class. There is no benefit of country of doing job of this person. If he will start business then economy of country will be strong and he will be also free from many things and can invest time on other businesses. If you are shopkeeper then you should expand your business and hire qualified people who have experience of work and can take responsibility of work. Open new branches and you will get passive income from that by investing money in that.These employees will work and you will get almost 20 percent profit from the business by doing nothing and economy will be strong by that step.

To the best of my knowledge, when it comes to a person’s career, one size does not fit all. There are those who do it so that they will have a steady paycheck to earn in their daily schedule and then there are those who are interested in creating their empire on their own. In other words, there is not good or bad, good way but the opportunity for methods that is more than the steady job. To the extent that the business construction does grant more liberty, it also necessitates courage, tenacity, and a correct approach. It is easier when many people are creating employment and that propels the economy and the welfare of more persons.

[Y3shot]

I disagree! And I believe you mean the natural resources by the resources remark you made, right?

The basic economic problem is not the scarcity of resources but poor leadership and mismanagement, although the lack of the resource can contribute. We've seen many countries blessed with the needed resources and even populations that should have been used to their advantage but are very poor. Go to Africa and Asia to confirm that. And we've seen many countries with very little resources flourish. Go to Japan and Barbados among others to confirm.

Lack of resources is not the problem for economic problems it is just as a result of bad leadership whereby funds are mismanaged, we can see that in some countries where they have good resources and many but the poverty rate in this countries are very. If you check one countries with resources that it leaders are doing well,  their economy is doing well because of Good management . Poor leadership is the reason for bad economy.

[blockman]

Lack of resources is not the problem for economic problems it is just as a result of bad leadership whereby funds are mismanaged, we can see that in some countries where they have good resources and many but the poverty rate in this countries are very. If you check one countries with resources that it leaders are doing well,  their economy is doing well because of Good management . Poor leadership is the reason for bad economy.

That's right, there are countries that have been lack of so many resources but with good leadership, they're able to make sufficient for themselves. At first, they have to import those resources they need until they can make it on their own if the climate in their areas are enough to produce that resources. A big failure of leadership is one of the many reasons why a country is dealing with economic problems. The constituents are only following what's with the leadership.

[Oluwa-btc]

The basic economic problem is not the scarcity of resources but poor leadership and mismanagement, although the lack of the resource can contribute. We've seen many countries blessed with the needed resources and even populations that should have been used to their advantage but are very poor. Go to Africa and Asia to confirm that. And we've seen many countries with very little resources flourish. Go to Japan and Barbados among others to confirm.

You're right that the basic economic problems of the society are poor leadership and mismanagement because this is the very areas that the resources of the country would be limited cause the leaders are after their own selfish interest and they don't really care if there are ways to expand the production whereas creating a room for growth and development. And more especially the Africa and Asia you mentioned are good examples tho that have good deal of natural resources that can generate a whole lot for them, but with the government they are having I believe it's gonna take a long while for them to attain such substantial growth in their economy.

[Mehmet69]

The basic economic problems in a society are mainly due to insufficient resources. If there is less wealth compared to the total population, there will always be financial problems in that society. If we work to create sufficient resources, we will definitely be able to properly shape our society.

[CageMabok]

The basic economic problems in a society are mainly due to insufficient resources. If there is less wealth compared to the total population, there will always be financial problems in that society. If we work to create sufficient resources, we will definitely be able to properly shape our society.

An area that has good resources and is well managed by its own leaders, then the people there will never experience difficulties. Because everything needed by the community can be built according to their wishes because there are reliable sources to support it. But if an area that has more resources but cannot be managed well by the local government, of course the level of difficulty of the community will also arise even though the number of people there is not too much. So it does not only refer to resources, but also refers to whether or not the people there are able to manage them very well against the resources that already exist in their own place.

[moneystery]

Lack of resources is not the problem for economic problems it is just as a result of bad leadership whereby funds are mismanaged, we can see that in some countries where they have good resources and many but the poverty rate in this countries are very. If you check one countries with resources that it leaders are doing well,  their economy is doing well because of Good management . Poor leadership is the reason for bad economy.

no matter how many resources a country has if it is not managed by a good government then it is also useless. my country is one of the countries in the world that has very abundant resources, but from time to time my country has not been managed by a good government. most of its officials are corrupt and only care about their own interests. and in the end, after more than 70 years of independence, my country is still stuck in a developing country.

while our neighboring country, its area is no more than a few hundred kilometers, with very limited resources. but it only took less than 30 years for them to become independent, they were able to become a developed country. because their leaders understand the potential of their country, and their officials work together to build their country to be better.

[eightdots]

The basic economic problems in a society are mainly due to insufficient resources. If there is less wealth compared to the total population, there will always be financial problems in that society. If we work to create sufficient resources, we will definitely be able to properly shape our society.

An area that has good resources and is well managed by its own leaders, then the people there will never experience difficulties. Because everything needed by the community can be built according to their wishes because there are reliable sources to support it. But if an area that has more resources but cannot be managed well by the local government, of course the level of difficulty of the community will also arise even though the number of people there is not too much. So it does not only refer to resources, but also refers to whether or not the people there are able to manage them very well against the resources that already exist in their own place.

Resources need to be used in the most efficient way. The needs of society are constantly increasing and if you have the resources to meet these needs, you need to use these resources in the most efficient way. If you don't have the resources, you have to find resources. In order for societies to develop and live well, resources need to be continuous.

Necessary work should always be done to ensure that resources are continuous because resources that are not continuous are not sustainable. The continuity of resources and creating different resources are among the most important works that need to be done for society.

[l3pox]

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

I disagree too, we're past the point of where scarcity was the biggest problem, we alredy have enough for everybody but people lack financial literacy and governants lack competency and incentives to make a better system, in terms of politics we're close to doomed almost everywhere since democracies have the incentive to spend more and more public money and taxes have been raising a lot for the past 100 years

I'm curious to see where we'll go, feels like a transition period

I just hope we arrive in political systems with more freedom and agency for people than systems with more authority

[Agbe]

these are too basic economic concept that are thought in high school but in the real world, even after identifying these economic problems and solving it, it doesn't translate to a buoyant economy.

issues like inflation, bad governance, wars, bad leadership and natural disasters are major problem of nations that if properly handled can help in boosting productivity and help in the stability of a nation. i think the problem of what to produce, how to produce it and for whom to produce it for is not a societal problem but more of an organizational issue that helps them become productive. the problem of the bigger society is bigger and more complex than what these few and basic concept can solve.

Natural disasters and war are the highest thing that can bring any economy to their kneel because is an occurrence that flip every economy backwards because everything that was built before will be done all over again, I remember when our father's normally tell us about the civil war that happens on those days were a lot of things was destroy, houses and companies which affects the economy very badly and the leaders was actually the course of everything and inflation keep rising it took years to revive what was lost, so actually even if the commodities Op said is available it cannot stabilize the economy if war breaks out or the bad leaders are the ones handling the afires.

I disagree with you that natural disaster and war are the greatest problems of an economy because  bad governance is the biggest problems to the development of any economy when you have leaders that has nothing to do with government who in the name of politics makes them selves to the corridor of power in a country that country is certain to have economic stagnancy, not natural disaster we can see this in the continent of Africa a continent without any natural disaster has been having economic stagnation for as long as possible

[Webetcoins]

The basic economic problems in a society are mainly due to insufficient resources. If there is less wealth compared to the total population, there will always be financial problems in that society. If we work to create sufficient resources, we will definitely be able to properly shape our society.

Alternatively, the value of the goods and services can be reduced to bring balance in society. So a lack of wealth or resources is not the only problem that we face, it's usually the high inflation that makes us uncomfortable with what we have, otherwise, if there is no inflation, whatever we have will be enough for us to live our lives without much problems, of course, it won't be a luxurious life, but at least the basic necessities will be fulfilled with no problem at all.

In so many countries nowadays, we see inflation going higher over time, and that is causing a lot of issues for people in lower classes and the reason for that is that they earn minimum wages, and with that, they aren't able to fulfil the basic needs of their household because the value of goods and services is very high and they can't afford everything. This is why, for society to have less economic problems, inflation has to be cut down as the first thing.

[Die_empty]

I disagree too, we're past the point of where scarcity was the biggest problem, we alredy have enough for everybody but people lack financial literacy and governants lack competency and incentives to make a better system, in terms of politics we're close to doomed almost everywhere since democracies have the incentive to spend more and more public money and taxes have been raising a lot for the past 100 years

I'm curious to see where we'll go, feels like a transition period

I just hope we arrive in political systems with more freedom and agency for people than systems with more authority

The major problem is not the lack of resources but the failure of the government to equitably allocate the available resources for the good of every citizen. I used to assume that there was no corruption in the developed world, but I was wrong. From the few years I have followed the economic news of some advanced countries, I discovered that corrupt practices are also prevalent in such societies. The only difference with most developing nations is that politicians there are more corrupt and don't care about the basic needs of the people.

Maybe there might be a revolution that will bring in another system of government because democracy has not been effective in some countries. In my location, there has been a rise in military takeovers.

[Olatundespo]

The basic economic problems in a society are mainly due to insufficient resources. If there is less wealth compared to the total population, there will always be financial problems in that society. If we work to create sufficient resources, we will definitely be able to properly shape our society.

With proper planning a proper distribution system can be developed in the society from insufficient resources. If you give up, then a proper and regular distribution system of the society will not be developed. It should be done by qualified people and through acceptable representatives. Except for a few developed communities, most of the communities in the world are not complete in terms of needs. They should be prioritized through a proper and balanced distribution system and their assistance should be provided accordingly.

Although the amount of resources is small, most of the communities are facing basic economic problems due to lack of skills to produce from it. To get rid of this they need competent leadership which is not present in most societies/countries. To create competent leadership, an educated population is needed.

[Bitcoin.com97]

Natural disasters and war are the highest thing that can bring any economy to their kneel because is an occurrence that flip every economy backwards because everything that was built before will be done all over again, I remember when our father's normally tell us about the civil war that happens on those days were a lot of things was destroy, houses and companies which affects the economy very badly and the leaders was actually the course of everything and inflation keep rising it took years to revive what was lost, so actually even if the commodities Op said is available it cannot stabilize the economy if war breaks out or the bad leaders are the ones handling the afires.

You are very correct , war is a major crises that can bring economy down ,and starting all over again it’s a bit challenging, because a lot of things will be lost in the process , I could remember my parents telling me they burnt our house because of war in my community those days , it took time to rebuild , start business again and people went to different destinations those things can affect the society growth .

We also need good governance, our leaders are not helping they only want the best for themselves and their next generation, resources are been shared within them , lack of resources are affecting youth whereby they have good ideas that can help the growth of society but resources to fund it won’t be there, then end up constituting nuisance ,, and inflation , when demand exceed supply , business rises price,same amount buys fewer goods.