--%>

Economic problem in all societies

Can someone explain/help me with best solution regarding problem of economic concept of societies...

Within all societies, the economic problem involves: (1) learning to be content with what is obtainable, (2) Equalizing the income distribution, (3) Maximizing whole social consumption and (4) Needs for goods exceeding the potential accessibility of goods.

   Related Questions in Public Economics

  • Q : Offsetting effects of Economic Growth I

    I have a problem in economics on Offsetting effects of Economic Growth. Please help me in the following question. Technological advances and resource diminution tend to join and hence a society’s production possibilities curve experiences: (i) R

  • Q : Technological advance in costs All else

    All else equivalent, when the output of one good raises, the output of other goods: (1) Should fall in an underemployed economy. (2) May rise as well when society begins on its PPF. (3) Will drop in an efficient and completely employed economy. (4) Essentially experie

  • Q : Problem related to Income distribution

    The necessary criterion for distribution asserts is that: (i) everyone requires a few luxuries to attain psychological balance. (ii) Output must be distributed in proportion to people’s requirements. (iii) Individual requirements will be met bes

  • Q : Description about the wealth of nations

    In 1776 Adam Smith’s work, The Wealth of Nations, is mainly a description of how: (1) democratic socialism is more efficient than totalitarianism. (2) self interest is coordinated within a market system. (3) barriers to internat

  • Q : Illustration of Positive and Normative

    "Minimum wage rules will reduce service of the workers they are designed to help, but they are desirable because it's more important that 90 percent of the covered workers remain employed at the higher wage than that 10 percent of the covered workers become jobless."

  • Q : Relationship between the price level

    David Hume’s observations regarding the relationship between the price level and money supply are termed as: (w) Price Specie-Flow Mechanism. (x) Law of Comparative Advantage. (y) Law of Absolute Advantage. (z) Laissez Faire.

  • Q : Criterion for distributing The

    The requirements criterion for distributing income entails: (1) Government costless offering all goods required for survival. (2) High administrative costs as determining someone else’s wants are difficult. (3) Dividing the national income unifo

  • Q : Rationally optimal decisions hinge on

    Economic scarcity is pervasive, that makes choices essential. Therefore, rationally optimal decisions hinge on tradeoffs which essentially reflect as: (1) using cooperative allocative mechanisms to minimize inequity. (2) opportunity costs. (3) competi

  • Q : Fee-simple private property rights I

    I have a problem in economics on Resources and Products Flow Model. Please help me in the following question. “Fee-simple” private property rights permit you to: (1) Shoot trespassers who are on your land with no permission. (2) Refuse to

  • Q : Resources and Factors of Production Of

    Of the given words, the term most synonymous along with the term “factor of production” is: (i) technology. (ii) innovation. (iii) entrepreneur. (iv) capital. (v) resource. Please guys help to solve thi