In economics
A) both resources and wants are limited.
B) both resources and wants are unlimited.
C) resources are limited but wants are unlimited.
D) resources are unlimited but wants are limited.

Question

Quizplus · Accepted Answer

Resources, or factors of production such as land, labor, and capital, are finite and cannot be infinitely replenished. Wants, or human desires for goods and services, are infinite and can never be fully satisfied. Therefore, there is always a scarcity of resources relative to unlimited wants and needs, resulting in the necessity for economic choices and trade-offs.

In Economics