Learning Path
Question & Answer1
Understand Question2
Review Options3
Learn Explanation4
Explore TopicChoose the Best Answer
A
Sustainable Development
B
Opportunity Cost
C
Economic Growth
D
Market Failure
Understanding the Answer
Let's break down why this is correct
Answer
Scarcity means that there are not enough resources to meet everyone's needs and wants. Because of this, we have to make choices about how to use our limited resources. Similarly, when we think about unlimited wants, it refers to the idea that people always desire more than what is available. This leads to the concept of trade-offs, where we must decide what we really want and what we are willing to give up. For example, if you have a limited amount of money, you might choose to buy a new video game instead of going out for dinner, showing how you allocate your resources based on your wants.
Detailed Explanation
When we have unlimited wants but limited resources, we must make choices. Other options are incorrect because Some might think sustainable development is about managing resources; People may confuse economic growth with fulfilling all wants.
Key Concepts
Scarcity
Resource Allocation
Opportunity Cost
Topic
Impact of Limited Resources
Difficulty
medium level question
Cognitive Level
understand
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