In carrying out the most diverse economic activities, any manager constantly encounters the problem of choosing where to direct his resources in order to achieve his goal. However, this difficulty is encountered not only by business executives and entrepreneurs at the level of small and medium-sized firms and companies, but also by the whole state apparatus, when, when planning the state budget for the next year, those spheres and branches of production are determined where financial investments should be directed for the successful functioning of the region. Thus, the problem of choice in the economy today is quite acute, and, in particular, this applies to developing countries, which lag behind highly developed countries in terms of economic development. That is why, in order to achieve success, authorities should carefully study the world economic system in order to find the right solution to state problems.
Economic history indicates that no state in the world could not but experience difficulties in the field of economic development during its development. Suffice it to recall the great depression of the 30s of the twentieth century in the United States, when the country was in very poor condition, the unemployment rate was record high, and the value of the dollar fell sharply. However, during the course of its development over several decades, this state was able not only to rise from its knees, but also to become a world power, which today by its example shows that any country can achieve success. Indeed, the main thing is the problem of choice in the economy, when, with a budget, the country's leadership decides where to send the next cash.
Each leader who is engaged in entrepreneurial activity knows perfectly well the simple economic truth that profit can be obtained where there is a shortage of any product or service. It is important to carefully study the market, find a free niche in it and occupy it in time. This is the key to achieving financial success and independence. The problems of economic choice directly affect whether the activity of an enterprise or state is successful or not.
An example of achieving great success on the world stage is China, which over the past two decades has steadily occupied the niche of a production work base for creating a wide variety of business items - from children's toys to the creation of high-tech equipment. Today, for this country, the problem of choice in the economy does not play a significant role, since China shows stable economic growth in production and the welfare of the population. Having managed to use the enormous human resources that the republic’s leadership concentrated on the production of basic consumer goods, China is gradually turning into a highly developed country. Of course, there are also quite complex domestic political problems and a different level of economic development within the country itself, but all of them are gradually being eliminated.
It is important to note that we all live in conditions where there are limited resources and the problem of choosing any product. The fact is that here one economic mechanism comes into effect, which is as follows: the wider the assortment of goods, the greater the need for constant updates for the majority of the population. As a result, it turns out that demand cannot be fully satisfied, since people constantly strive to consume more and more new goods and services. For this reason, marketers who are involved in the assessment of the market situation, as well as the analysis of supply and demand, remain very popular professions in the sale of goods.
Thus, the problem of choice in the economy plays a very important role in achieving the set goals, since success in the economic sphere both for the company and for the state as a whole depends on the correctness of the chosen path.