Which of the following options is unconcerned with the problem of choice?

Excessive income      

The correct answer is option 4: Excessive income    

The problem of choice arises because of scarcity. Since human wants are unlimited but resources are limited, individuals and societies must make decisions about how to allocate resources efficiently.

• Unlimited wants is concerned with the problem of choice because people always desire more goods and services than what is available.
• Scarce resources lead to the problem of choice because there are not enough resources to satisfy every need and want.
• Alternative use of technology is related to the problem of choice because different production methods require decisions on the most efficient way to use resources.
• Excessive income is not related to the problem of choice because when income is abundant, scarcity is reduced. In such a situation, an individual can afford nearly everything they want without making difficult choices.