Answer:
The limitations of economics become especially problematic in normative economics.
It Involves
- Recommendations about how things ought to be and what types of policies a government should implement in order to improve a nation's economy.
What are the basic problem and limitations of economic?
The fundamental economic problem is the issue of scarcity and how best to produce and distribute these scare resources. Scarcity means there is a finite supply of goods and raw materials. Finite resources mean they are limited and can run out.
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