Question

You have unlimited wants and limited resources to satisfy them explain this statement by giving 2 examples

Answer 1

the human have unlimited no of want bt cannot complete his all want due to limited resources
fr example a man want to buy a ferari nd he hav 20 lakh rupees nd the cost of ferari is 1 crore thn jis want was unable to cmplt due to limit resource
if a person have s to buy a phon if he want to buy iphone nd the cost of iphone has more thn he hav thn he buy the phon under his limit to satisfy his want

Answer 2

The available resources are always less than our personal necessities and expectations.

That's why we have to invest and use those resources in a smart way to fulfill our expectations and necessities.

For example;

1) Investment is a good option for increasing the available financial resources and then fulfilling the personal necessities.

(Eg. Mutual funds,Bank, Post office etc)

2) If we have limited amount of other physical resources (excluding money) ,then we should apply the basic trading theory to get the maximum value of the available resources,and with that maximum value we can again purchase and resale with benefits ,untill we reach the amount needed for our necessities.