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Yes this problem is the thing that the whole economics subject is based upon. The Economic problem is that there are scarce resources such as oil,gold and many more and peoples wants are infinite and never ending. If you ask a person to make a list of what he wants the list would never end and would keep getting longer. This is the economic problem and Economics deals with trying to cope with this problem and giving alternatives. If peoples wants keep getting bigger and bigger, there will come a time when scarce resources run out. This is the economic problem.
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