'Choice arises because of scarcity of resources',In discussing this statement, Whi...
Question
'Choice arises because of scarcity of resources',In discussing this statement, Which of the following is NOT correct?Options
A)
Human wants are numerous but the resources needed to satisfy them are limited
B)
Given numerous wants and limited resources only individuals and businesss firms make choice
C)
The process of making a choices involves opportunity cost
D)
An economist is not interested morality or otherwise of any choice so made
E)
Usually choice is made from a list of wants compliled in the context of a scale of preference
Related Lesson: Basic Concepts in Economics | Economics as a Science
The correct answer is B.
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