Question

You have unlimited wants and limited resources to satisfy them.explain by giving examples

Answer 1

Man has wants that are endless. As soon as ine want satisfies another want rises. Thus wants are neverwnding. On the other hand the resources available with us are limited and have alternate use. Thus it is not possible for us to satisfy our ever want.

Eg: you have 5000₹ with you(take it as resource) now you have to deposit your tutuin fee, purchase some stationary, buy a birthday gift for friend, want to watch a latest movie and sooo on .... thus you want many thing but you have limited money so you cannot get all your wants fulfilled.