Individuals must make choices because
A) resources are scarce and wants are limited
B) resources and wants are unlimited
C) assets and wealth are distributed unevenly
D) resources are scarce and wants are unlimited
E) inflation usually outpaces income growth

Question

Quizplus · Accepted Answer

Resources are limited and wants are unlimited, meaning that individuals must choose which wants to fulfill with their limited resources. This is the fundamental economic problem and the reason why individuals must make choices. A, B, C, E are incorrect because they do not accurately describe the reason why individuals must make choices.

Individuals Must Make Choices Because