Economic choices or tradeoffs are the result of:
A)basic human greed.
B)scarcity.
C)poverty.
D)private ownership of resources.
E)the government's intervention in production.

Question

Quizplus · Accepted Answer

Economic choices and tradeoffs occur because resources are limited (scarcity). People and societies must make choices about how to allocate those limited resources to meet their needs and wants, which leads to tradeoffs. Basic human greed, poverty, private ownership of resources, and government intervention can all influence economic choices, but the fundamental reason for tradeoffs is scarcity.

Economic Choices or Tradeoffs Are the Result Of