Central problems of an economy are found only in those economies which are not governed or regulated by the government.

Question

Defend or refute the statement. Write ‘yes’ or ‘no’ with reason:

Central problems of an economy are found only in those economies which are not governed or regulated by the government. 

Answer 1

No. Every economy faces the central problems, though these are solved differently in different economies. Because, scarcity of resources is common to all economies.