The basic economic problem arises because

resources are scarce and have alternative uses, while wants are unlimitedCorrect answerYour answerresources are unlimited and wants are fewCorrect answerYour answermoney is printed by the central bankCorrect answerYour answerpeople do not want to workCorrect answerYour answer

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CorrectNot quiteAnswer A

Correct answer: A

Unlimited wants meet limited resources, so not every want can be met.
Because each resource can be used in more than one way, society has to choose: this choice is the economic problem.

Concept: Scarcity and choice
Typical timeTypical: 40 s
Your timeYours: —

The rule this testsScarcity and the central problems

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The basic economic problem arises because

Explanation