Ask Question
BusinessBusiness
3 January, 01:33

The economizing problem is essentially one of deciding how to make the best use of a. limited resources to satisfy limited wants. b. unlimited resources to satisfy limited wants. c. limited resources to satisfy virtually unlimited wants. d. unlimited resources to satisfy unlimited wants.

+3
Answers (1)
  1. 3 January, 01:56
    0
    Answer: Option (C) is correct.

    Explanation:

    In economics, this is a fundamental problem that how to utilize the limited resources to satisfy unlimited wants. There are three things that are interrelated with each other:

    (1) Limited resources

    (2) Scarcity of goods and services

    (3) Unlimited wants

    We know that human wants are unlimited and resources are limited, then there is a problem of scarcity arises. Many economists call this as "economizing problem". So, economizing problem is all about making choices from scarce resources.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “The economizing problem is essentially one of deciding how to make the best use of a. limited resources to satisfy limited wants. b. ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Besides the actual mortgage payment, which also factors into the monthly payment on a home?
Answers (2)
What is one way you can get singled out as a leader by using body language?
Answers (1)
Conduct online research to discover how to start and maintain a good credit rating throughout your life. Write a 500-word report describing your plan to become a responsible, low-risk borrower with an excellent credit score.
Answers (1)
Finance in an organization Corporate finance is concerned with the different aspects of a business's financial management. The chief financial officer (CFO) is the top financial position in the organization and oversees several tasks.
Answers (1)
Unemployment benefits are a. paid to individuals the entire time they are unemployed regardless of how long they are unemployed. b. not paid to individuals with assets valued over $200,000. c.
Answers (1)
New Questions in Business
Now that we have explored the problem, let's turn to the solution is an example of an internal preview. a. Trueb. False
Answers (1)
Suppose that while melissa was on the coast, she also spent two days sightseeing the national parks in the area.
Answers (1)
On a large construction project, the price of dry wall is $.40 per square foot and spraying the dry wall with textured plaster is $.45 per square yard. how much must the builder pay for sprayed dry wall that is 100 square yards?
Answers (1)
Which statement describes the equity‑efficiency trade‑off? There is always a more equitable outcome that is also more efficient. Government intervention can increase efficiency in a market. The least efficient economic outcome is the fairest outcome.
Answers (1)
You would like to buy shares of Nokia (NOK). The current bid and ask quotes are $20.13 and $20.15, respectively. You place a market buy-order for 300 shares that executes at these quoted prices. How much money did it cost to buy these shares?
Answers (1)
Home » Business » The economizing problem is essentially one of deciding how to make the best use of a. limited resources to satisfy limited wants. b. unlimited resources to satisfy limited wants. c. limited resources to satisfy virtually unlimited wants. d.
Sign Up Forgot Password?