Answer to Question #319323 in Macroeconomics for Gert

Question

The fundamental economic problem society is confronted with involves ___________.

a.   ensuring they get what they want

b.   ensuring the lowest possible satisfaction of needs with these scares resources

c.   choosing how it will use its scarce resources to the maximum effect in order to satisfy its needs

d.   making as much profit as possible regardless of the needs of society 

Answer 1

c) Choosing how it will use its scarce resources to the maximum effect in order to satisfy its needs