which of the following statement is true ?
a)Human wants are infinite
b) Resources are limited
c)Scarcity problem gives birth to choice
d)All of these
Answers
Answer:
option (c)
Explanation:
Scarcity problem gives birth to choice
Answer:
The appropriate response to this question is Option(d), which is also part of the question. These are all accurate, Human desires expand infinitely as people learn new ways to make life comfortable and enjoyable.
Explanation:
Therefore, the basic economic issue of choice is a result of resource scarcity. A society must make decisions because it cannot create enough products and services to meet all of its citizens' needs. Making the choice to generate one good necessitates making the choice to produce less of another good. In economics, the term "scarcity" describes a situation in which there is a limited supply of a resource and a high demand for that item.
Adam Smith has put out a theory of human desires and methods for satiating those desires, which are limitless.
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