Answer to Question #268609 in Microeconomics for Althea Amor Galdo

Question

7. What is the basic economic problem and what its implication on the life of its individual especially this time of pandemic?

8. How might a person get the skill needed for the opportunity to their occupational level and earn a higher income when there is a significant decrease in the economy due to covid-19 pandemic resulting to higher rate of unemployment?

9. During this covid-19 pandemic the world suffer scarcity resources. As a citizen of the philippines how would you use this scarcity to uplift our present status explain?

10. How do the basic factors of production influence the choices made by producers to satisfy individual needs?

11. What effects do insufficient natural resources have on the choices made by individual consumer justify by citing an example?

12. Explain how does scarcity force people to make economic choices?

Note: Each item consist of 200 words thnks a lot

Answer 1

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