The Basic economic problems of society

[ITExpert]

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

These are fundamental problem that we face. There always a gap between human needs that are unlimited and a limited quantity of resources so firstly we have to prioritize services and needs we have to put first. Secondly we must choose most efficient methods that are cost friendly and have good environmental benefits for those who have to work eg labours and workers. We must use high technology in this regard, Thirdly we have to determine how can we distribute services and fulfillment of needs among society people. Who needs and whom we have to provide first. Allocating the services among individuals is also important. There another important thing that we should talk about we have to allocate our resources precisely and wisely. We should take note on present investment and consumption and future needs and savings too

[palle11]

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 this is talking about is principles of production in relation to factors of production. These does not cover the challenges or problem of a society. Have you fathom the problems of society that is not relating to

what commodities to produce;how to produce them; for whom to produce these goods and services; and how to distribute.?

There are insecurity which is a big problem to every society these days because criminal activities are on the rise and the primary responsibility of government is to secure lives and properties.

Apart from internal insecurities, there is instability in different parts of the continent and war which has either little or huge effect on different parts of individual economy.

There is increasing rate of inflation especially in less developed countries.

Moreover, the problems are not uniform in all societies. Some societies are battling with corruption and corrupt politicians/leadership amidst plenty natural resources, which harnessing becomes a challenge. Some societies face scarcity of resources but have built strength in human capital.

So what to produce, how and who to distribute it to is a production terminology and principles not a society problem in isolation.

[bangjoe]

Today's society is educated to be a consumer society, they never tell their people to do something, plant it, and make it, but they tell their people to buy it, wear it, drink it, and eat it. So this makes society very dependent on foreign products, and this is what makes society continue to be poor. living in a country rich in natural resources and abundant minerals, but they live in poverty and only become laborers, and this can happen because society is never taught how to manage natural resources and minerals properly and can generate large profits.

look at poor and developing countries, don't their people actually live in fertile places with abundant natural resources and minerals, but why are they still poor. Meanwhile in developed countries and industrial countries, a country filled with buildings and factories, which does not even have agricultural land or mines, but why can its people live prosperously and richly. Isn't this strange..? or is it a deception..?

[summonerrk]

Today's society is educated to be a consumer society, they never tell their people to do something, plant it, and make it, but they tell their people to buy it, wear it, drink it, and eat it. So this makes society very dependent on foreign products, and this is what makes society continue to be poor. living in a country rich in natural resources and abundant minerals, but they live in poverty and only become laborers, and this can happen because society is never taught how to manage natural resources and minerals properly and can generate large profits.

look at poor and developing countries, don't their people actually live in fertile places with abundant natural resources and minerals, but why are they still poor. Meanwhile in developed countries and industrial countries, a country filled with buildings and factories, which does not even have agricultural land or mines, but why can its people live prosperously and richly. Isn't this strange..? or is it a deception..?

You are absolutely right. We have been living in a consumer society for a long time, and as strange as it may sound, today the middle class has such benefits and conveniences that even kings once did not have.
And since everyone is fed and everyone is clothed, all that's left is to choose what we want to do. I mean get better phones, bigger TVs, more powerful computers, and of course, that's where marketing comes in. But nevertheless, without the agricultural sector and the manufacturing sector, nothing in the world can continue to exist, because this is the base, and Marketing is only the top of the consumer market. The physical spheres and the service sector are the foundation.

[doomloop]

Today's society is educated to be a consumer society, they never tell their people to do something, plant it, and make it, but they tell their people to buy it, wear it, drink it, and eat it. So this makes society very dependent on foreign products, and this is what makes society continue to be poor. living in a country rich in natural resources and abundant minerals, but they live in poverty and only become laborers, and this can happen because society is never taught how to manage natural resources and minerals properly and can generate large profits.

look at poor and developing countries, don't their people actually live in fertile places with abundant natural resources and minerals, but why are they still poor. Meanwhile in developed countries and industrial countries, a country filled with buildings and factories, which does not even have agricultural land or mines, but why can its people live prosperously and richly. Isn't this strange..? or is it a deception..?

What makes you say that it's in the hands of society to manage the natural resources and generate profit from that? It's in the hands of those in control of the country, namely the government, and the reason why a country stays poor even if it's rich in natural resources and minerals is because their leaders aren't doing their job fairly, and they are cheating their people and engaging in corruption. Countries such as Kuwait and Saudi Arabia are doing so well today only because of one natural resource, which is Oil, and on the contrary, there are countries with gold, coal, oil, gas, and so many more natural resources, but they are still poor.

So, the reason why countries and their people suffer from economic problems, such as inflation, or stay poor when the country is rich with minerals, is that their government isn't using those minerals in a good way, either they are doing deals with other countries and taking money and filling their pockets, or they aren't able to take out enough minerals even when they are present.

[HelliumZ]

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.

[Unknown Op]

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.

There are many big problems in the society because we have politicians and they are not solving the problem because they are doing the work to get next seat in the election and if they will work on the genuine problems then they will lose attention then they will not be powerful person but they want to show that they are powerful and they are doing work but actually they are not doing work. Government should give debt to the youngesters who want to establish their business but they are not doing that and they have to go the banks with difficult conditions and they have no choice but we can't do anything in this case .Government should work the public because they are public servant but they are thinking that they are leaders .

[summonerrk]

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 the world, the most powerful countries in economic terms are usually those countries that initially had a huge amount of resources stored in the ground, such as Saudi Arabia or Russia. But if those in power in a country do not have an economic streak, they can easily leave their country poor even in this situation. But if they are smart, the country will prosper even without resources. For example, Switzerland does not have so many resources, and in general it is a small country with mountainous terrain. But their government managed to integrate their internal processes of the banking system so well that this country, even without resources, was able to become rich and prosperous due to the storage of other people's money.

[LDL]

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.

Apart from all these important reasons, there are some other geographical reasons due to which a country cannot develop economically. Especially when a country cannot produce crops due to climatic reasons due to its geographical location and has to depend on imports for crops, those countries generally cannot develop economically. Agricultural production is generally not possible in areas such as barren deserts, flood-prone areas, high and low mountainous regions, due to which a country always lags behind in economic development. Moreover, the reasons mentioned above, especially bad government system, corruption at all levels of the country, rising prices, inflation, lack of skilled manpower, lack of factories, lack of communication systems, illiterate population, etc., play a huge role in the economic development of a country.

[Yokkattannee]

Apart from all these important reasons, there are some other geographical reasons due to which a country cannot develop economically. Especially when a country cannot produce crops due to climatic reasons due to its geographical location and has to depend on imports for crops, those countries generally cannot develop economically. Agricultural production is generally not possible in areas such as barren deserts, flood-prone areas, high and low mountainous regions, due to which a country always lags behind in economic development. Moreover, the reasons mentioned above, especially bad government system, corruption at all levels of the country, rising prices, inflation, lack of skilled manpower, lack of factories, lack of communication systems, illiterate population, etc., play a huge role in the economic development of a country.

Of course there are many reasons why a country has difficulty in developing economically, including in its management and of course a leader who is truly intelligent is what is really needed in leading the country, in advancing its economy there are many things that must be considered including a leader who has broad insight and has ideas to advance the country's economy, and indeed geographical location is also a determining factor, but these elements are only a few of the reasons that exist.

[sunsilk]

If the state provides a livelihood to the citizens, then there won't be any problem if it's with the provision for the society. And if it becomes stable, the next thing that the government to address is about the peace and order.

The lesser crimes that they have, the more investors that will come in and businesses to start into their region.

So, livelihood means businesses, something to make money and as well as job. With this, it's going to give better daily living for the people that are in there and of course, basic education, hospitals, and other necessities.

[Hanadawa]

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 the world, the most powerful countries in economic terms are usually those countries that initially had a huge amount of resources stored in the ground, such as Saudi Arabia or Russia. But if those in power in a country do not have an economic streak, they can easily leave their country poor even in this situation. But if they are smart, the country will prosper even without resources. For example, Switzerland does not have so many resources, and in general it is a small country with mountainous terrain. But their government managed to integrate their internal processes of the banking system so well that this country, even without resources, was able to become rich and prosperous due to the storage of other people's money.

But unfortunately the number of countries that have the criteria as you mentioned is very small. Those who have natural resources have governments that have integrity and honesty so that resources can be managed well and provide their citizens with a decent life without having to work hard to succeed. On the other hand, countries with limited resources have very smart governments that can take advantage of the geographical advantages of their region. Like Switzerland which has beautiful nature and very good banking. Or like Singapore which takes advantage of the Malacca Strait and expedition services that make them one of the important routes in world trade. Unfortunately not all countries are like that. And talking about countries that provide a decent life for their citizens I think only countries with a socialist ideology can do it. As for capitalist countries, they need rich nationalist businessmen to give people a decent life.

[lornadane]

Basic econ problem is pretty simple imo: scarcity. Unlimited wants, limited resources. Society has to decide what to produce, how to produce it, and who gets what. Everything else — inflation, unemployment, poverty — kinda branches out from that core issue.

[Yeesha]

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.

Yeah exactly, I agreed with all of your statements. The biggest problems that we are actually facing now is a deep seated combination of bad governance, poor leadership, and at the same time, pervasive mismanagement by those who hold power as our representatives, and we addressed them as our leaders. We chose them as our representatives in other to take our beloved countries to the next level, instead of steering the nation toward sustainable development, our leaders seem to prioritise short term gain due to their selfish interests. They are making decisions without transparency, and they allocate resources in a ways that benefit them alone, rather than the broader population, regardless of the conditions of the Citizens.

Sincerely speaking, the mixture of bad governance, poor leadership and mismanagement has caused a lot of problems, difficulties and challenges. The social amenities like schools, hospitals, and roads are actually not getting enough money and they are falling apart. The money they suppose to use to help the country grow and develop is often taken away or they are being spent on projects that doesn't work. Honestly, some people are actually losing their trust in the government, because the promise of a better and stabilize future is slipping away. Sincerely speaking, some of our leaders have let us down. 

[GIF-JOBS]

Basic econ problem is pretty simple imo: scarcity. Unlimited wants, limited resources. Society has to decide what to produce, how to produce it, and who gets what. Everything else — inflation, unemployment, poverty — kinda branches out from that core issue.

This kind of demand will never end, the needs, expectations, lacks will always be there. Problems will always be there, but find a solution to the problem, try to bring yourself to a stable level. Overthinking, overachieving, trying to put yourself above everyone, learn to enjoy life by eliminating these. Life is limited, and everything is unpredictable and there is no end to the needs, so keep yourself stable and enjoy life.

[Jateng]

Basic econ problem is pretty simple imo: scarcity. Unlimited wants, limited resources. Society has to decide what to produce, how to produce it, and who gets what. Everything else — inflation, unemployment, poverty — kinda branches out from that core issue.

the basic economic problem is the unequal distribution of resources. Resources are circulating in the hands of a particular class, which creates a wide gap between different sections of society. This unequal distribution divide the society into different classes. many people who have talent, skills and the ability to work hard are unable to access good opportunities. Their potential remains unused simply because they lack financial support or social connections. This situation not only creates injustice but also slows down overall economic growth.This limits human potential, as capable and hardworking individuals cannot contribute fully to economic growth due to lack of access to resources. productivity remains low and overall economic development slows down

[gibrab16]

Seen this play out in real life. Scarcity forces trade-offs: inflation, unemployment, inequality. Markets try to solve this, but politics and human behavior complicate things. Understanding the problem = smarter decisions.

[bounceback]

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

No, this is not because of resource scarcity. I dare to say this because in the country where I live, natural resources are very abundant, such as supplies of petroleum, natural gas, coal, and precious metals, but the reality is that until now people live in misery, corrupt officials are the only factor that makes the economy among the people difficult, they continue to exploit natural resources without thinking about the damage to nature that will be caused after carrying out legal or illegal mining for personal gain and do not care about the lives of the people, they continue to plunder natural resources but they forget how to use these natural resources to ensure economic growth among the people grows well.

[iamsange]

No, this is not because of resource scarcity. I dare to say this because in the country where I live, natural resources are very abundant, such as supplies of petroleum, natural gas, coal, and precious metals, but the reality is that until now people live in misery, corrupt officials are the only factor that makes the economy among the people difficult, they continue to exploit natural resources without thinking about the damage to nature that will be caused after carrying out legal or illegal mining for personal gain and do not care about the lives of the people, they continue to plunder natural resources but they forget how to use these natural resources to ensure economic growth among the people grows well.

Indeed, our country's natural resources are truly extraordinary especially the abundant natural resources. However several factors hinder public welfare. Currently many people are barely able to enjoy the benefits of their own country's natural resources as is currently happening in three provinces where floods and landslides have not yet been declared a national disaster. However considering the events in these three provinces it is quite heartbreaking. Many have died and homes have been destroyed by the torrential rains that have devastated their homes.

The oil supply alone is sufficient for those who seek corruption to enrich themselves, while they are unaware of the public's well-being even though their primary duty is to provide comfort and prosperity for the people as they represent the people and simply sit in parliament.

[gibrab16]

Seen this play out in real life. Scarcity forces trade-offs: inflation, unemployment, inequality. Markets try to solve this, but politics and human behavior complicate things. Understanding the problem = smarter decisions.