Fundamental economic problems basically arise from
A) the fact that society has more than it needs.
B) turmoil in the stock market.
C) the unequal distribution of income.
D) our wants exceeding our scarce resources.

Question

Quizplus · Accepted Answer

The fundamental economic problems arise because human wants are unlimited, but the resources available to fulfill those wants are limited or scarce. This discrepancy between unlimited wants and limited resources is what necessitates choices and priorities in how resources are allocated, leading to the study of economics.

Fundamental Economic Problems Basically Arise from