What is the reason that all economic issues and problems occur?
A)All nations use some form of money to buy and sell goods and services.
B)People seek only their own self-interest.
C)Powerful governments are able to control production and consumption.
D)Human wants exceed the resources available to satisfy them.
E)Humans are always wasteful and inefficient in production and consumption.

Question

Quizplus · Accepted Answer

Economic issues arise because human wants and needs are unlimited and exceed the resources available to satisfy them. This is known as scarcity, and it results in the need to make choices about what to produce, how to produce, and for whom to produce. This leads to issues such as shortages, high prices, and unequal distribution of goods and services. The other options are not accurate descriptions of the fundamental reason for economic issues.

What Is the Reason That All Economic Issues and Problems