Post Utme Abu 2019 Economics Question 6

Practice objective / multiple choice question 6 from the 2019 Post Utme Abu Economics examination.

Post Utme Abu 2019 Economics Objective / Multiple Choice
Question 6 POST_UTME_ABU • 2019 • ECONOMICS • objective

The concept of scarcity in economics implies that the wants and needs of individuals are unlimited, but the resources available to satisfy these wants and needs are limited. Which of the following best describes the relationship between wants, needs, and resources?

Answer Options

A. Wants and needs are fixed, while resources are variable.
B. Resources are fixed, while wants and needs are variable.
Correct Answer C. Wants and needs are variable, while resources are fixed.
D. Resources are variable, while wants and needs are fixed.
Correct Answer
C
Correct Option:
Wants and needs are variable, while resources are fixed.

About This Question

This is Post Utme Abu 2019 Economics Question 6. It is one of the objective questions from the 2019 Post Utme Abu Economics examination.

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