Question

Agree/disagree with explanation ,
All wants can be satisfied at a time.

Answer 1

Answer:

I disagree with the given statement that, "All wants can be satisfied at a time."

This is so because there exists the basic economic issue of "scarcity of resources". When there is scarcity, in that situation people cannot get satisfied for all their wants. People have unlimited wants and limited resources to avail those wants and get satisfaction. This is why there exists the situation of opportunity cost. People must accept that they cannot get all wants. For example, I want a burger and a pizza, but I have only Rs.100. A burger costs, Rs.50 and a pizza costs Rs.65, so I will only be able to purchase one want.

Answer 2

Explanation:

All wants can be satisfied at a time. *

Agree

Disagree