An economy exists on which of the following two facts?

CA Foundation · Business Economics · PYQS · May 2025
An economy exists on which of the following two facts?
(A) A. Human wants are limited and the resources are unlimited.
(B) B. Human wants are limited and the resources are scarce.
(C) C. Human wants as well as resources are unlimited.
(D) D. Human wants are unlimited but the resources are relatively scarce.

Suggested Answer and Working Notes:

Correct Answer: Option (D)

D. Human wants are unlimited but the resources are relatively scarce.

Topics: Nature & Scope of Business Economics

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