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A basic economic problem of any society is

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Economics WAEC 2014

A basic economic problem of any society is

  • high level of illiteracy
  • irregular power supply
  • population growth
  • resource allocation checkmark

The correct answer is: D

Explanation

The fundamental economic problem is the issue of scarcity and how best to produce and distribute these scare resources. Scarcity means there is a finite supply of goods and raw materials. Finite resources means they are limited and can run out

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