All economic issues are rooted in a lack of resources. We are aware that resources are finite or in short supply compared to demand, but desires or goals are limitless. As a result, we struggle to decide between all of our desires. This is because limited resources have alternate uses. We must therefore pick between our most pressing needs and less pressing wants. In actuality, the choice dilemma is the fundamental issue with economies. More specifically, the challenge we face is making the best choices for the aims to be achieved and the methods for making use of the limited resources. Every economy deals with a few core issues known as an economy's primary concerns.
Economic Growth, Inequality, Production, Production Possibility Curve, Resources.
[Mr. Yelahanka Lokesh (2022) A Basic Introduction on Challenges of an Economy] (ISSN 2347 - 5552). www.ijircst.org
Mr. Yelahanka Lokesh
Assistant Professor, Department of Commerce And Economics, Presidency University, Bangalore, India,
Email Id-lokesh.yr@presidencyuniversity.in