Question : Difference between resources and human wants
Option 1: Resources are scarce but human wants are unlimited
Option 2: Resources have alternative uses and human wants differ in priorities
Option 3: Both 1 and 2
Option 4: None of these

Question

Question : Difference between resources and human wants

Option 1: Resources are scarce but human wants are unlimited

Option 2: Resources have alternative uses and human wants differ in priorities

Option 3: Both 1 and 2

Option 4: None of these

Team Careers360 · Accepted Answer

Correct Answer: Both 1 and 2

Solution : Following are the differences in resources and human wants:

Basis	Resources	Human Wants
1. Scarcity	They are scarce.	They are unlimited.
2. Uses	They have alternative uses.	They differ in priorities.

Hence, the correct option is 3.

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Question : Difference between resources and human wantsOption 1: Resources are scarce but human wants are unlimitedOption 2: Resources have alternative uses and human wants differ in prioritiesOption 3: Both 1 and 2Option 4: None of these

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Question : Difference between resources and human wants
Option 1: Resources are scarce but human wants are unlimited
Option 2: Resources have alternative uses and human wants differ in priorities
Option 3: Both 1 and 2
Option 4: None of these

Question : Human wants differ in ________.
Option 1: Priorities
Option 2: Wants
Option 3: Intensity
Option 4: None of these

Question : Reason/s of economic problem is/are _______
Option 1: Scaricity of resources
Option 2: Unlimited human wants
Option 3: Alternative uses
Option 4: All of the above

Question : The basic economic problem confronting all societies is how to allocate scarce resources between
Option 1: Alternative uses
Option 2: Rich and poor
Option 3: Agricultural sector and industrial sector
Option 4: None of the above

Question : Economic problem is a problem of ________.
Option 1: Choice
Option 2: Scarcity
Option 3: Unlimited resources
Option 4: Alternative uses

Question : Which of the following claims regarding human capital is accurate?
Option 1: Human resources and human capital are related to each other

Option 2: Human development and human capital are related to each other
Option 3: Both a and b are correct
Option 4: Both a and b are incorrect