Definition, Meaning & Synonyms
economic-problems
phrase
/ˌɛkəˈnɑːmɪk ˈprɒbləmz/
Definition
Challenges related to the production, distribution, and consumption of goods and services in an economy.
Examples
- High unemployment rates are one of the major economic problems facing the country.
- Inflation is an economic problem that affects the purchasing power of consumers.
- The government is implementing policies to tackle economic problems like poverty and inequality.
Meaning
Economic problems refer to the issues that arise from scarcity of resources and the necessity of making choices in managing those resources effectively.
Synonyms
- Financial issues
- Economic challenges
- Market problems
