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Question
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Posted 10 months ago
Which of the following best captures the idea of the fundamental economic problem?
Choose 1 answer:
(A) Limited resources and unlimited wants
(B) Infinite resources and limited wants
(c) Lack of demand for limited resources
D Limited wants and limited resources
(E) Unlimited resources and unlimited wants
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Answer from Sia
Verified answerPosted 10 months ago
Solution by Steps
step 1
Identify the fundamental economic problem from the given options
step 2
The fundamental economic problem involves the scarcity of resources, which means that there are limited resources to satisfy unlimited human wants
step 3
Review the options and select the one that best describes the fundamental economic problem of scarcity
1 Answer
A
Key Concept
Scarcity
Explanation
The fundamental economic problem is scarcity, which is captured by the idea of limited resources and unlimited wants.
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