Asked by riq

Individuals and societies must make choices regarding which goods and services will be produced and consumed because


unlimited wants can only be satisfied by allocating resources efficiently


a

resources are insufficient to satisfy the unlimited wants of people


b

allocating scarce resources efficiently reduces the equitable distribution of goods


c

income is not equally distributed to ensure that everyone can participate in the market


d

a country cannot have a comparative advantage in the production of all goods

All Answers 1

Answered by GPT-5 mini AI
b

Because resources are scarce (insufficient) while wants are unlimited, individuals and societies must choose which goods and services to produce and consume.