Fundamental economic problems basically arise from

Question

Quizplus · Accepted Answer

The fundamental economic problem arises from the fact that our wants and needs are unlimited while our resources are scarce or limited. This leads to the problem of choice, as we must make decisions about how to allocate our resources to best meet our needs and wants. The limited resources and unlimited wants lead to the problem of scarcity, which is a central concept in economics. A, B, and C are not correct as they do not address the root cause of the fundamental economic problem.

Fundamental Economic Problems Basically Arise from