Answer to Question #236928 in Economics of Enterprise for tee

Question

A basis for the systematic study of economics exists because A. resources are scarce in relation to material wants. B. governments interfere with the efficient allocation of scarce resources. C. individual economic actors cannot be relied upon to make rational economic decisions. D. resources are plentiful relative to wants, therefore an allocation problem arises. E. the market consistently fails to allocate resources efficiently, thereby establishing the need to study economics

Answer 1

A. resources are scarce in relation to material wants.