Which of the following statement/statements are true?
Statement 1: No individual has unlimited resources compared to his needs .
Statement 2: Everybody has to use limited resources in best possible manner to fulfill their needs.
Statement 1: No individual has unlimited resources compared to his needs .
Statement 2: Everybody has to use limited resources in best possible manner to fulfill their needs.
Answer & explanation
Correct answer: option 1
In any economy, resources are scarce as compared to needs of the citizens. Hence, these limited resources need to be allocated and utilized in most optimum manner.