Problems faced by all economic systems include which of the following? i. how to locate scarce resources among unlimited wanted. ii. how to decentralize markets iii. how to decide what to produce, how to produce, and for whom to produce __m iv. how to set government quotas

How to allocate scarce resources among unlimited wants

Explanation:

Economics is the study on how society uses its limited resources to cater to the needs of its members.  Economics is about making choices of production, distribution, and consumption for both the country and individuals. Economics study's factor that influences the decision-making process.

Economics is classified into macroeconomics and microeconomics. Macroeconomics is the collective study of how a country or a region address the need of its member using scarce resources. It is concerned with issues such as unemployment, inflation, and general price levels. Microeconomics study's how individual firms and households make choices as they utilize scarce resources to meet their unlimited wants.

answer(d) encourage cooperation by improving the chances of mutually agreeable transactions;