Ask Question
7 September, 10:27

The fundamental economic problem is meeting people's virtually unlimited needs and wants with limited resources. Question 3 options:True False

+5
Answers (1)
  1. 7 September, 12:56
    0
    The correct answer is: True.

    Explanation:

    The basic or fundamental problem in economics is people have unlimited wants and needs and the resources are limited. These limited resources have alternative uses and are used to satisfy unlimited wants and needs.

    These resources are to be used rationally in such a way that total utility or consumption derived is maximized.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “The fundamental economic problem is meeting people's virtually unlimited needs and wants with limited resources. Question 3 options:True ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers