Economics is the study of how society manages its a. limited wants and unlimited resources. b. limited wants and limited resources. c. unlimited wants and unlimited resources. d. unlimited wants and limited resources.

Question

Alf

Social Studies

17 December, 15:11

Economics is the study of how society manages its a. limited wants and unlimited resources. b. limited wants and limited resources. c. unlimited wants and unlimited resources. d. unlimited wants and limited resources.

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Answers (1)

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Blackjack · Answer 1

Option D

Explanation:

The wants of the society has never been balanced with the resources. There has not been unlimited resources, the resources has never been unlimited, no society has all the resources required, that is why we have businesses to cater for those resources but the wants of the society keeps growing, satisfaction has not always been met, there is always unlimited wants and needs to sustain the society also there are also some society that doesn't have resources but the wants is higher and there are some that has the resources but the wants keep growing so there has not been a balance, balance on wants and resources. So therefore option D is the best answer that explains economics.