economic problem - Hutchinson encyclopedia article about economic problem Printer Friendly
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economic problem

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economic problem

The problem that is faced because wants are infinite but resources are scarce. Therefore resources have to be allocated between competing uses. Economics is the study of how the economic problem is resolved.



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? Mentioned in ? References in classic literature
 
Here she faced the financial and economic problem of keeping house in a society where the cost of living rose faster than the wages of industry.
The Valley of the Moon by London, Jack View in context
And very vaguely there came a suggestion towards the solution of the economic problem that had puzzled me.
The Time Machine by Wells, H.G. View in context
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