which of the following best explains why resources need to be allocated in the game of economics? A) natural resources are often found in places far from where they are used for production B) if sufficient resources are not set aside for future production, scarcity cannot be eliminated C) there are not enough resources to produce all of the good and services that everyone wants. D) there are always different production methods for the same goods and services

Question

Business

Judah Leonard

22 November, 16:36

which of the following best explains why resources need to be allocated in the game of economics? A) natural resources are often found in places far from where they are used for production B) if sufficient resources are not set aside for future production, scarcity cannot be eliminated C) there are not enough resources to produce all of the good and services that everyone wants. D) there are always different production methods for the same goods and services

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Jensen Graham · Answer 1

C) there are not enough resources to produce all of the good and services that everyone wants.

Malcolm Stephens · Answer 2

Which of the following best explains why resources need to be allocated in the game of economics? C. There are not enough resources to produce all of the good and services that everyone wants. There will never be enough resources available to produce everything that every person wants, so there needs to be a purpose for the ones we do have available and where they need to be allocated. Although, in a perfect world, there will be enough goods and services that everyone wants available when they want them, that just isn't the case so it's important to make sure the needs are produced before the wants.