Economy, asked by rneelam225, 4 months ago

Human wants are unlimited but means to satisfy them are limited or scarce Comment.

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Answered by manjotdevgun

2

Answer:

Since human wants are unlimited, and resources used to satisfy those wants are limited - there is scarcity. ... There is always scarcity, because human wants are unlimited. This then brings use to a third important idea: Because of scarcity we MUST MAKE CHOICES. Some economists call this the "economizing problem".

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