The presence of unlimited human wants means that scarcity is not a significant issue in economic decision-making, as resources can always be adjusted to meet these wants.

The idea that unlimited human wants means scarcity isn't a big issue is not quite correct. Scarcity refers to the fact that resources, like money, time, and materials, are limited, while our desires for goods and services can be endless. For example, even if people want more toys or gadgets, there are only so many factories and workers available to produce them. This limitation forces us to make choices about how to use our resources, which is a key part of economic decision-making. Ultimately, recognizing scarcity helps us prioritize our needs and make better decisions about what to produce and consume.