Question

unlimited needs and wants

• people have

which means you never get enough
products or services because there will always be something else you want or need.

• the issue with this?

no person, business, or nation has enough
all of their wants
and needs. this is known as having
and the things we want are
scarce.
how to work with limited resources
•

• businesses need to make the most of their limited resources by asking themselves:

•
?

• how do we produce these goods?
• who are we providing these products for?

Explanation:

People have unlimited needs and wants, meaning they never have enough products or services. No one has enough resources to fulfill all wants and needs, which is scarcity. To work with limited resources, businesses must consider what to produce, how to produce, and for whom to produce.

Answer:

• People have unlimited needs and wants.
• No person, business, or nation has enough resources to fulfill all of their wants and needs. This is known as having scarcity and the things we want are scarce.
• To work with limited resources: Decide what to produce.
• Businesses need to make the most of their limited resources by asking themselves: What do we produce? How do we produce these goods? Who are we providing these products for?