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.

[hafiztalha]

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.

Commodities play big role to make the country stable because if country has more wheat then it will be beneficial for that because commodities price will go up when these are limited in the country and if that country have to take commodities from other country then there will be more tax on that and it will not be good for that country because no person want to pay taxes to other country but they have to force to pay the taxes And they will pay because they have no option.

People should learn more about gold and silver market been these are also commodities and these prices are going up and people are earning well from these investments. Corn is beneficial commodity and it can give stability to the country which country has excess of that .

[Nanga Parbat]

Commodities play big role to make the country stable because if country has more wheat then it will be beneficial for that because commodities price will go up when these are limited in the country and if that country have to take commodities from other country then there will be more tax on that and it will not be good for that country because no person want to pay taxes to other country but they have to force to pay the taxes And they will pay because they have no option.

People should learn more about gold and silver market been these are also commodities and these prices are going up and people are earning well from these investments. Corn is beneficial commodity and it can give stability to the country which country has excess of that .

Nowadays the cost of living is increasing which means that people want more resources and the demand for everything  be higher.However if a country has its own resources that country is economically stable and independent. Independence has a good effect on others.Yes if we do not have goods then we will have to bear inflation because inflation is the solution to stabilize the country.Nowadays, people consider things to be sufficient.Now most of the investments are being made in gold and silver which provide more benefits than other investments.If there is a shortage of any item in the country it should be removed immediately so that we do not have to buy that item from another country.

[Y3shot]

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 don't think scarcity is the reason why society has problems. When it comes to resources apart from natural and renewable resources, the government can easily create resources that can be depended on. Resources are not the problem; instead, the government is to be blamed because they are not ready to create something that will boost the economy. The government can always do something when it comes to generating resources, but they are too lazy for that.

[trendcoin]

The problem of the world especially developing nations is not a lack of resources but poor management and unequal distribution.

The issue is that people believe that making wealth distribution equal it would get rid of poverty and all other ills a society holds. 

Yes, moreover, because they focus on resource scarcity, they assume that total wealth is fixed or that they can fix it by distributing it equally, whereas total wealth is a variable. Everything from food products to industrial tools varies in quality and quantity. Fixing such a variable instead of increasing it serves no purpose other than opening the door to disaster. Trying to fix such a variable instead of increasing it means not using resources efficiently...

[Reatim]

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.

countries with very diverse and abundant resources know they have to keep producing those and take advantage but for some reason they don’t put in their money into those resources so it can grow really the ones in charge are the problem

[Alone055]

Yes, moreover, because they focus on resource scarcity, they assume that total wealth is fixed or that they can fix it by distributing it equally, whereas total wealth is a variable. Everything from food products to industrial tools varies in quality and quantity. Fixing such a variable instead of increasing it serves no purpose other than opening the door to disaster. Trying to fix such a variable instead of increasing it means not using resources efficiently...

Actually, it's not wrong to assume that the total wealth of the world is actually fixed or limited, it doesn't actually increase, but it just goes from one place to another. For example, if you have money, and I have products, you give me your money and get the products from me. The money now got transferred to me, and then I use that money to produce more products, the money is transferred to the other party, and they will use it for something else again, so basically, the wealth only gets transferred from one place to another, and the profits we make are not an increase in the total wealth, we get that profit from the money others have, and then we give it to another party when they take profit from us.

When it comes to resource scarcity, it's not actually a thing, but you could say that it can vary from one product to another. Some products are produced in a larger quantity, while some are produced in a lower quantity, it all depends on how many consumers of that product are there, because it wouldn't make sense to create a excess of a product when there aren't even enough buyers or consumers for it. So, it's a relative thing, and it doesn't apply to every product, but it does to some of them.

[Leon_jesus]

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

Economic problems have a lot to do with the social class you come from or grew up in. We are usually shaped from a young age by attitudes, performance, and development... as well as bad habits, all of which are also influenced by genetic inheritance.
Social classes are divided according to each person's ability to earn money to survive.

[Samlucky O]

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

Sometimes the problem the economy face t's not just due to scarcity of resources, but as a result of poor or bad management. A country or nation may be rich with numerous natural resource that will yield them income, but lack of planning or management can make such country look so poor like they dont have enough resources. Example is my country.

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

Yeah they need to be productive, but this productivity is how they can be able to utilize what they have to get what they want, and this includes finding way to explore their natural resources and refine it and export to a country with higher pay than yours, and doing that will pump more income in USD at least this will help to increase their income source.

[cocadalcan]

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 need to check what is the demand for the product and what percentage of that demand you can meet and whether you have sufficient funds. It is better to take a bank loan than your own funds to take up and implement a production-oriented project because they will support you financially and will be involved in the various stages of product production and will manage the activities. They will strategically help you to recover their loan amount.

[AprilioMP]

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

Basically, these four points are questions that need to be answered for economic circulation. Other issues beyond these four points are also serious problems that need to be solved but are not included in the theory.

Understanding the economic needs of the community as the object of the market is difficult. We do not give examples of how large businesses that have been successful can survive to this day, such as the shoe and jacket business or other businesses that no longer sell goods but sell the concept behind the products they market.

[abhiseshakana]

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

Basically, these four points are questions that need to be answered for economic circulation. Other issues beyond these four points are also serious problems that need to be solved but are not included in the theory.

Understanding the economic needs of the community as the object of the market is difficult. We do not give examples of how large businesses that have been successful can survive to this day, such as the shoe and jacket business or other businesses that no longer sell goods but sell the concept behind the products they market.

I think in this modern society the main fundamental problems are distribution gab and lack of social coordination and access. midlle and lower class now face scarcity of qualified job, education access, socail trust, political stability, economic safety, capital and credit which actually show wide gap on economic system access. Economy value also change in this modern area, value of goods is determined by social status, perception, narative, strory, barnding and symbol identity, which show modern economy has influenced by consumption culture and mass psychology not only needed. The other fundamental problem are mismatch between production spillover with imbalance distribution and access (structural distribution damage). What we see in our society now, there are productivity increasement but prosperity is not equitable, and frankly speaking economic growt can  not reduce disparity. I think the root of problem emerge from social structuresucah as un neutralize market which people who have capital, connection, information and technology will control it. Overconsumerism based on social pressure also contribute and also there are economic growth but society stressed increased.

[9ja Amaka]

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.

I totally agree with what you said, the problem of society is not just scarcity, but rather bad leadership and management. A good leader that is very good with management will definitely improve the society.  As you mentioned in the case of Africa and Asia,  their issue is not scarcity,  but most of their leader are very bad, that I'd why the society is struggling to develop,  rather it keep declining. Africa for example has a lot of resources,  but it's one of the poorest continent,  and that due to lack of good leadership.