What implications does resource scarcity have for the satisfaction of wants?

CA Foundation · Business Economics · MTP · September 2026
What implications does resource scarcity have for the satisfaction of wants?
(A) A. Not all wants can be satisfied
(B) B. We will never need to make choices
(C) C. We must decrease our individual wants
(D) D. New natural resources are necessary in every case

Suggested Answer and Working Notes:

Correct Answer: Option (A)

A. Not all wants can be satisfied

Topics: Nature & Scope of Business Economics

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