A central and fundamental theme in economics is that:

A) wants are limited.
B) the United States is a rich country,but we are simply not aware of it.
C) people have unlimited wants but limited means to satisfy them.
D) resources are unlimited.

Question

Abdirahman Zakic · Accepted Answer

Final Answer : C, Explanation :  This is a fundamental concept in economics that people have unlimited wants, but limited resources to satisfy those wants. It leads to the need to make choices and trade-offs, which are key components of economic decision-making. The other options (A, B, and D) are not central themes in economics.

A central and fundamental theme in economics is that:

A) wants are limited.
B) the United States is a rich country,but we are simply not aware of it.
C) people have unlimited wants but limited means to satisfy them.
D) resources are unlimited.

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Related questions

A central and fundamental theme in economics is that:A) wants are limited.B) the United States is a rich country,but we are simply not aware of it.C) people have unlimited wants but limited means to satisfy them.D) resources are unlimited.

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Learning Objectives

Learning Objectives

Related questions

A central and fundamental theme in economics is that:

A) wants are limited.
B) the United States is a rich country,but we are simply not aware of it.
C) people have unlimited wants but limited means to satisfy them.
D) resources are unlimited.