The inescapable economic fact is that

Question

Quizplus · Accepted Answer

This is the fundamental economic problem that every society faces. People have unlimited wants and needs, but resources such as labor, machinery, and natural resources are scarce. As a result, choices must be made on how to allocate those resources to produce goods and services that satisfy as many of those wants and needs as possible. This is the central economic problem that underlies all economic systems, whether capitalist, socialist, or mixed.

The Inescapable Economic Fact Is That