All economic questions and problems 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) a society's wants exceeding what its scarce resources can produce.
E) the difference between self-interest and social interest.

Question

Quizplus · Accepted Answer

Economics is the study of how society uses its scarce resources to satisfy its unlimited wants. Therefore, all economic questions and problems arise from the fact that a society's wants exceed what its scarce resources can produce. This is the fundamental economic problem.

All Economic Questions and Problems Arise from