Question

A basic concept in economics is that all resources are
A.scarce
B.allocated
C.valuable
D.renewable.

Answer 1

The answer is....Option C. Valuable

Answer 2

Economics studies the production ,distribution and consumption of goods and services.

It focuses on the behavior and interactions of economic agents.

It mainly focuses on how we can utilize well the scarce resources.

Therefore :

The basic concept in economics is that all resources are scarce.