When an economist says that material wants are insatiable, this means that:
A)economic resources are valuable only because they can be used to produce consumer goods.
B)economic resources-land, labour, capital, and entrepreneurial ability-are scarce.
C)these wants are virtually unlimited and therefore incapable of complete satisfaction.
D)the structure of consumer demand varies from time to time and from country to country.

Question

Quizplus · Accepted Answer

Insatiable means incapable of being satisfied, and when an economist says that material wants are insatiable, they are referring to the fact that these wants are virtually unlimited and cannot be completely satisfied. This is due to the fact that human desires and needs are constantly changing and evolving, and as new wants are fulfilled, new ones emerge.

When an Economist Says That Material Wants Are Insatiable, This