Question

Economic problem arises due to the fact that ____________.

• A. resources are scarce
• B. human wants are unlimited
• C. resources have alternative uses
• D. all of the above

Answer 1

The correct option is D all of the above

All economic problems arises due to unlimited human wants and limited resources. Moreover, these resources have alternative uses and wants keep on increasing each day. This economic problem is also known as problem of choice or the problem of allocating resources to alternative uses.