The fundamental problem of economics is
A)The law of increasing opportunity costs.
B)The scarcity of resources relative to human wants.
C)How to get government to operate efficiently.
D)How to create employment for everyone.

Question

Quizplus · Accepted Answer

The fundamental problem of economics is how to allocate scarce resources among unlimited human wants and needs. This is what economists refer to as the problem of scarcity. The other choices may be important issues, but they do not represent the fundamental problem of economics.

The Fundamental Problem of Economics Is