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Why is it necessary to make economic choices?

Updated: 4/28/2022

Wiki User

∙ 12y ago

Best Answer

economic choices are necessary because resources are limited while the human wants are unlimited.one has to make the best choice between or among alternatives according to the given inputs or resources which affect the total feasible output.

Wiki User

∙ 12y ago

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Continue Learning about Economics

What is the basic economic problem that makes choices necessary?

The basicc economic problem that makes choices necessary is that there are limited economic resources & unlimited human wants.

Which can people do through the Internet to make better economic decisions?

Get the information that is necessary for making good choices. #ApexAnswer

Examples of economic choices you have to make?

different people make different economic decisions

What are three economic choices every society must make?

The three economic choices every society must make is what the society will produce, how it will be produced, and who will get what is produced.

People must make choices to satisfy their needs and wants?

Economic

Related questions

What is the basic economic problem that makes choices necessary?

The basicc economic problem that makes choices necessary is that there are limited economic resources & unlimited human wants.

Which can people do through the Internet to make better economic decisions?

Get the information that is necessary for making good choices. #ApexAnswer

Examples of economic choices you have to make?

different people make different economic decisions

How do you make the best economic choices?

make a scale of preferences

What are three economic choices every society must make?

The three economic choices every society must make is what the society will produce, how it will be produced, and who will get what is produced.

Why do you think that economic is often said to be the science that studies choices?

Limited resources make choices necessary.

Can you give an example of a sentence using the word 'economic'?

It was characteristic of Jim to make thrifty and economic choices.

People must make choices to satisfy their needs and wants?

Economic

When people have the right to make economic choices what do they live in?

home-based

Why do you think that economics is often said be the science that studies choices?

Limited resources make choices necessary.

What basic economic choice must people and societies?

Societies make choices about how to use their resources. Businesses make choices about what to produce and when to produce it.

What basic economic choice must people and societies make?

Societies make choices about how to use their resources. Businesses make choices about what to produce and when to produce it.

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