Sovi.AI - AI Math Tutor

Scan to solve math questions

QUESTION IMAGE

crash course economics #1 - scarcity multiple - choice question economi…

Question

crash course economics #1 - scarcity
multiple - choice question
economics is driven by the fundamental concept of
people always make the smartest money choices
people never make the right choice with money
people do not have many needs, so they can get whatever they want
there are unlimited things people want, but there are limited amount of resources

Explanation:

Brief Explanations

Economics studies how society allocates scarce resources. Scarcity exists because human wants are unlimited while resources are limited. The other options are incorrect as people don't always make smart money - choices, nor do they never make the right money - choices, and people have many needs that cannot always be met due to scarcity.

Answer:

There are unlimited things people want, but there are limited amount of resources