The perpetual problem in economics is:
A) our inability to work together effectively.
B) our inability to satisfy everyone's wants with the available resources.
C) likely to be solved in resource-rich countries.
D) our inability to utilize resources efficiently.

Question

Quizplus · Accepted Answer

The fundamental problem in economics is scarcity, which means that there are limited resources but unlimited wants. Therefore, it is impossible to satisfy everyone's wants with the available resources, which creates the perpetual problem in economics. Choices A, C, and D are not necessarily the root cause of this problem.

The Perpetual Problem in Economics Is