Asked by Pablo Porcayo on Apr 28, 2024
Verified
According to Emerson: "Want is a growing giant whom the coat of Have was never large enough to cover." According to economists, "Want" exceeds "Have" because
A) people are greedy.
B) productive resources are limited.
C) human beings are inherently insecure.
D) people are irrational.
Productive Resources
The inputs used in the production of goods and services, typically classified as land, labor, capital, and entrepreneurship.
Economists
Professionals who study, develop, and apply theories and concepts from economics and write about economic policy.
- Analyze the impact of scarcity on economic decisions.
Verified Answer
AG
Abhinav Gautam AdariApr 28, 2024
Final Answer :
B
Explanation :
Economists argue that "Want" exceeds "Have" because productive resources are limited, which is a fundamental concept in economics known as scarcity. Scarcity means that there are not enough resources to satisfy all human wants and needs, leading to the necessity of making choices about how to allocate these limited resources.
Learning Objectives
- Analyze the impact of scarcity on economic decisions.