The real core of the economic problem is to:
A)increase the amount of leisure time available to people.
B)guarantee everyone on the planet a minimum level of food, shelter and clean water.
C)allocate limited resources among competing uses.
D)eliminate scarcity.

Question

The real core of the economic problem is to:
A)​increase the amount of leisure time available to people.
B)​guarantee everyone on the planet a minimum level of food, shelter and clean water.
C)​allocate limited resources among competing uses.
D)​eliminate scarcity.

Quizplus · Accepted Answer

The economic problem arises due to scarcity of resources and the need to allocate these resources among various competing needs and wants. Therefore, allocating limited resources among competing uses is the real core of the economic problem. Option A and B are also important social and economic goals, but they address specific aspects of the economic problem rather than the core of the problem itself. Option D is not possible as scarcity is an inherent characteristic of resources, and no economy can completely eliminate it.

The Real Core of the Economic Problem Is To