in any economic system , which of the following is not an economic problem?

Assessment: WAEC SSCE - Economics - 1988 (Objective) Subject: Economics

Question 1 Report

in any economic system , which of the following is not an economic problem?
Answer Details
The economic problem refers to the challenge of allocating scarce resources among competing wants and needs. All the options listed are typical economic problems faced by any economic system. However, equal distribution of goods and services is not an economic problem in the sense that it is more of a social and political goal rather than a fundamental economic problem. While economic systems may strive to promote equality, ensuring equal distribution is not a problem that arises solely from the scarcity of resources. Therefore, the correct answer is "Equal distribution of goods and services."

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