Basic Problems of Economics | Scarcity and choice are the cardinal problems faced by economists and the society at large. The study of economics is necessitated by scarcity and the problem created by scarcity has led to choice.
With Patria Vieja, it refers to the stage of political and military conflicts that broke out in Chile from the First National Government Junta, in 1810, until the Battle of Rancagua in 1814, which gave rise to the Spanish Reconquest.