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 : Economics is all about making choices in the presence of ________.

Option 1: Scarcity

Option 2: Unlimited resources

Option 3: Limited resources

Option 4: All of the above

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 : Scarcity and ______ go together.

Option 1: Choice

Option 2: Available resources

Option 3: Non-renewable resources

Option 4: All of the above

Question : The central economic problem of every society is

Option 1: To maintain peace in the world.

Option 2: To prevent famine in rural areas

Option 3: The scarcity of economic resources

Option 4: Decentralization of power