Societies must choose how to use available resources because
A) most resources are not owned by anyone.
B) the capacity to produce goods and services is unlimited.
C) in the aggregate human wants are insatiable.
D) otherwise resource prices would be zero.
E) technological progress wastes resources.

Question

Quizplus · Accepted Answer

Societies have limited resources to produce goods and services, but human wants are insatiable. This means that there will always be more wants than there are resources available to satisfy them. Therefore, societies must make choices about how to allocate scarce resources in the most efficient and effective ways possible. This involves trade-offs and prioritizing among different goods and services that are in demand.

Societies Must Choose How to Use Available Resources Because