Learning Path
Question & Answer1
Understand Question2
Review Options3
Learn Explanation4
Explore TopicChoose the Best Answer
A
Meeting all wants without trade-offs
B
Choosing alternatives that maximize benefits
C
Focusing solely on production without consideration of wants
D
Disregarding the opportunity cost of decisions
Understanding the Answer
Let's break down why this is correct
Answer
When a society faces scarcity, it must prioritize how to use its limited resources to meet the most important needs of its people. This often means focusing on basic necessities like food, water, and shelter first, as these are essential for survival. For example, if a community has a shortage of water, it should allocate its resources to ensure everyone has access to clean drinking water before spending on luxury items. Additionally, the society may need to consider which groups, like children or the elderly, require more support. By carefully deciding how to use its resources, the society can help ensure that the most critical needs are met, promoting overall well-being.
Detailed Explanation
When resources are limited, a society must choose the best options. Other options are incorrect because Some might think it's possible to meet all wants without any trade-offs; Focusing only on production ignores what people actually want.
Key Concepts
Scarcity
Opportunity Cost
Resource Allocation
Topic
Scarcity in Economics
Difficulty
medium level question
Cognitive Level
understand
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