Scarcity and choice.

• The heart of economics is to solve economic problem.the economic problem arises from two inter-
• related facts.
• Men have unlimited wants to accuse goods and service.human wants rater to all the goods and services that individuals desire.these wants very among different people. however,human wants are always greater than the goods services available to satisfy them.
• The economic resources are are needed to produce goods and services.economic resources refer to the factors or their means of protecting the goods such as land,labour and capital .These resources are available in limited quantity with society.this is the basic economic problem.