In an Economy, problem of choice arises. Arrange the following in order : (A) Leads to scarcity of resources (B) Demands are unlimited (C) Problems of choice arises (D) Our resources are limited Choose the correct answer from the options given below : |
(D), (B), (A), (C) (A), (C), (B), (D) (A), (B), (C), (D) (C), (D), (B), (A) |
(D), (B), (A), (C) |
The correct answer is option (1) : (D), (B), (A), (C) (D) Our resources are limited: This statement acknowledges that resources available in any economy are finite. (B) Demands are unlimited: This statement reflects that human wants and desires are essentially limitless. (A) Leads to scarcity of resources: Limited resources compared to unlimited wants lead to scarcity. (C) Problems of choice arises: Scarcity necessitates choices about how to allocate resources among competing uses, leading to the problem of choice. |