Allocating courses at a college usually is not done by the use of markets. it follows that allocating courses:_____.

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19-08-2022
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Allocating courses at a college usually is not done by the use of markets. it follows that allocating courses:_____.

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Tutorconsortium322 Tutorconsortium322 · Answer 1 · 2022-08-24T06:12:43+02:00

Allocating courses at a college usually is not done by the use of markets. it follows that allocating courses is nevertheless an economic problem.

What is an economic problem?

The three basic economic questions that must be addressed and resolved by economic systems as a sort of social system are:
"How much and which of alternative commodities and services shall be created?"
and "What kinds and amounts of goods shall be produced." How should products be made? Who is doing this and with what funds?

Scarcity results from a lack of resources and an abundance of human desires. The cause of all economic problem is this.

Examples include, How to deal with external costs/pollution, e.g. pollution from production.
How to redistribute income in order to fight poverty without destroying economic incentives, how to supply public commodities that are typically not provided in a free market, such as street lighting.

Learn more about economic problem here:

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