state with the reason weather you agree or disagree with the following statement
all wants can be satisfied at a time
Answers
In the practical world,all wants cannot be satisfied at a single time.
Explanation:
From an economic perspective,human wants or desires are unlimited and unending but the resources available to fulfill them are limited or finite.Therefore,as a rational individual,everyone is trying to reach the unlimited ends with scare means or resources which engenders the concept of opportunity cost.Opportunity cost is defined as sacrificing or foregoing any option or options in life to avail the others,which indicates a trade off between choices or options in life because of scarce or limited resources.Hence,we practically cannot fulfill all our wants at any single point in time.As rational human beings,we can only fulfill some and sacrifice the rest as options or choices in human life are many but resources are scare.To choose any choice or choices means sacrificing the other or others.