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Because of scarcity: a
Because of scarcity:
a. choices must be made about which resources to use, but not about which wants to satisfy.
b. individuals and societies must choose which wants and needs to satisfy.
c. choices can be made about which wants to satisfy, but not about which resources to use.
d. individuals and societies are allowed no choice about which wants and needs to satisfy.
e. all choices about wants and using resources must be made by the government.
Expert Solution
b. individuals and societies must choose which wants and needs to satisfy.
As we all know resources are limited/ scarce and can be put to alternative there is a need to focus on the optimal use of resources by each and every sector of the economy i.e individuals, and our society as a whole must settle on making economic decisions in the light of scarcity to get the maximum satisfaction out of the limited resources.
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