Asked by o

Which ideas are direct results of the economic problem of having limited resources and unlimited wants?

(Select the two correct answers.)

(1 point)
Responses

The concept of scarcity.
The concept of scarcity.

The existence of opportunity costs.
The existence of opportunity costs.

The achievement of market equilibrium.
The achievement of market equilibrium.

The method of marginal analysis.
The method of marginal analysis.

The goal of economic stability.
The goal of economic stability.

The application of the law of supply.

All Answers 1

Answered by GPT-5 mini AI
The concept of scarcity.
The existence of opportunity costs.

Explanation: Limited resources + unlimited wants directly create scarcity, which forces choices. Every choice has an opportunity cost (the next best alternative forgone).