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CAUSES OF ECONOMIC PROBLEMS !!!
First we have to understand what does "Economic problem" mean. As we know humans have unlimited wants but the resources are limited/scarce. Therefore, people have to make a choice regarding the efficient use of the available resources of the economy. Thus, by economic problem, we mean problem of choice or the problem of economical use of scarce resources. Now, we move to what causes those problems exactly.
There are three main causes to "Economic problems", first the "unlimited wants". No person can satisfy all of their wants fully. As a persons wants get completed the more wants that person has.
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