Answered

Find solutions to your questions with the help of IDNLearn.com's expert community. Discover in-depth answers from knowledgeable professionals, providing you with the information you need.

Because resources are limited and demands are unlimited, societies and individuals must make choices about what to produce and what to consume. This economic concept is..

Sagot :

Martebiidn

Answer:

Scarcity

Explanation:

Scarcity as it is widely known connote an event or situation in which unlimited wants is more than the the limited resources available to meet the demands or fulfill those wants. It is also known to be the common economic problem of having unlimited wants, but limited resources to meet those wants.

Resources needed by man most importantly are little or limited in their supply. Human wants are those things that humans needs and they are unlimited in nature. Due to the scarcity of Resources are scarce, humans have tomake choices and drop out some of their wants to be able to fulfill the much needed one.

Thank you for joining our conversation. Don't hesitate to return anytime to find answers to your questions. Let's continue sharing knowledge and experiences! Find reliable answers at IDNLearn.com. Thanks for stopping by, and come back for more trustworthy solutions.