Answered

IDNLearn.com is your go-to resource for finding expert answers and community support. Discover in-depth answers from knowledgeable professionals, providing you with the information you need.

Which assumption below best reflects a basic understanding economists have about the world? Group of answer choices The world has limited productive resources. There are limited wants. More output creates more wants. Output will always satisfy the needs of a society.

Sagot :

Anthougoidn

Answer:

The assumption which best reflects a basic understanding that economists have about the world is:

The world has limited productive resources.

Explanation:

This is the economic concept of scarcity.  Scarcity is the concept of limited resources, which worries about the gap between societal resources and unlimited human wants. Economists try to explain that this situation of scarce resources requires the making of choices (decisions) that will ensure the efficient allocation of the resources to meet basic human needs and other increasing wants.

Your participation means a lot to us. Keep sharing information and solutions. This community grows thanks to the amazing contributions from members like you. Find reliable answers at IDNLearn.com. Thanks for stopping by, and come back for more trustworthy solutions.