Asked by Rodina M. Richard on Jul 21, 2024
Verified
The fact that people have unlimited wants means that:
A) they always want more of at least one good.
B) each person has an unlimited desire for every good.
C) labor unions demand wage increases.
D) selfish people are not concerned about others.
E) people buy goods without regard to what they can afford.
Unlimited Wants
The economic concept that humans have endless desires for goods and services.
Good
A tangible product used to satisfy human wants.
- Understand the primary complication in economics as the pressure to choose due to the insufficiency of resources.
Verified Answer
MP
Maria PuentesJul 23, 2024
Final Answer :
A
Explanation :
The concept of unlimited wants means that there is always a desire for more of at least one good, even if other desires may be limited. This is a fundamental assumption in economics and is the basis for explaining many of the decisions people make in the marketplace.
Learning Objectives
- Understand the primary complication in economics as the pressure to choose due to the insufficiency of resources.