Question

to which of the following household - type(s) does the phrase \unlimited wants and limited resources\ apply?
i. a low - income household
ii. a middle - income household
iii. a high - income household

a. i only.
b. ii only.
c. both i and ii, but not iii.
d. i, ii, and iii.

Explanation:

The concept of "unlimited wants and limited resources" is a fundamental economic problem that applies to all households regardless of income level. Low - income, middle - income, and high - income households all have desires that exceed their available resources.

Answer:

D. I, II, and III