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 :
Answer & explanation
Correct answer: option 1
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.