 We are going to explain the economic problem and what is the meaning of the economic problem? In economics, there may be many types of the problem, but the actual problem that shapes the form of the economic problem, it has only the issue of scarcity. So, the allocation of resources, if we say that this term, the allocation of resources is the main title that gives the all forms of economic problem to the society. Allocation of resources, it provides that the resources, they are scarce. Allocation of resources, it gives that these resources, they have to be utilized among various people. And at the same time, these resources, they may have various combination. These resources, they are limited. And these resources that are mostly available, they are in the form of land, labor, capital, and human capital that is in the form of the entrepreneurship, the management skills. So, these all four factors of production are mostly, they have alternative utilization. They can be utilized for one purpose, and at the same time, they can be utilized for the other purpose. One farmer can plant a crop in a field, and if he wants to, he can plant another crop in the field. So, now, he has to decide that he has to plant a plant for himself or for his animals. And if he wants to plant both things, then he has to decide that, if I have four acres of land, then I have to allocate to plant so many crops, and how many I have to allocate to plant four. And in the same form, if we are talking about the second thing, which we call capital, then available form of machinery, available form of expertise, and knowledge, and technology, this will also be in the form of resources. So, you have to see how many available resources I have, so an entrepreneur decides. And how to utilize these resources in an efficient way? So, the next question we have in the economic problem is to utilize resources in an efficient way. And if we talk in an efficient way, it means that way, we should not waste resources, not waste them. As much resources are available in the form of input, as much as they are available in the form of production, in the form of output, to society, and to its owners. So, the problem of choice is the name of the decision between scarcity and multiple ends, which we have to maintain and balance. And when we have to look at these factors of production, we have to see that the human wants, which we call resources scarce, the human wants are unlimited. Now, if we are talking here about how the wants can be unlimited, so we can say that if there is a desire or a wish of one person today, then over the time, if they complete or complete it, then after 5 or 10 years, they will have new desires. One person wants to get education, this is his today's issue. When he is going to complete the education, then he wants to be a servant and earn for himself. When he completes this, then after that, he wants to earn in it. Now, I should increase my salary. Now, I have to build a house. Now, I have to buy a car. Now, I have to travel a little. So, in life, when things go ahead, then our wish, our desire, our unlimited form goes on. So that we get new things every day.