. . ... An economy cannot produce an infinite number of goods and services. Scarce resources put a limit on production levels. Here, a government wants.... The basic problems of an economy can be solved either by the decisions of the Government or by the Market through interactions of buyers and sellers. The.... Under such economies, all economic problems are solved with the help of free price mechanism and controlled price mechanism economic planning. Free price.... . . ... All societies face the economic problem, which is the problem of how to make the best use of limited, or scarce, resources.. . . ... List of Basic Economic Problems and Their Solution- Any society, regardless of its size, degree of development and political system,.... . . ... In the public sector, the problem of how to produce is solved by the planning authority and the government. ... the planning authority is.... . . ... Examples of economic problems include How to deal with external costspollution, e.g. pollution from productio
