Because people's wants are unlimited but resources are scarce,
A)only the rich get everything they want
B)choices must be made
C)there will be more services produced than goods
D)people search for spiritual fulfillment rather than material fulfillment
E)poor people never get anything they want

Question

Quizplus · Accepted Answer

Since resources are limited, people cannot have everything they want. Therefore, choices must be made regarding what to produce, how to produce, and for whom to produce. The concept of opportunity cost arises because people have to give up the best alternative in order to satisfy their most important needs and wants.

Because People's Wants Are Unlimited but Resources Are Scarce