identify your wants. how many of them can you fulfill? how many of them are unfulfilled? why you are unable to fulfill them?
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Answered by
30
My wants include:
(i) Food
(ii) Shelter
(iii) Clothing
(iv) Technology
Out of all these things, I can acquire most however, having the latest form of technology is not possible because there are unlimited wants but limited resources. People desire a lot of things but they do not have the resources to fulfill them.
This is the basic economic problem and the definition of economics.
(i) Food
(ii) Shelter
(iii) Clothing
(iv) Technology
Out of all these things, I can acquire most however, having the latest form of technology is not possible because there are unlimited wants but limited resources. People desire a lot of things but they do not have the resources to fulfill them.
This is the basic economic problem and the definition of economics.
Answered by
6
at present it is really hard to fulfill our needs as the trend changes our expectations and needs increase
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