Abasic concept in economics is that all resources are?

scarce.

allocated.

valuable.

renewable.

A basic concept in economics is that all resources are scarce (Option A)

Explanation:

Conventional economics scientists have a view that humans and society always have a desire to meet the needs, both those needs in the form of goods (services) and services (services). In order to meet these needs, a problem will emerge which will then be considered as the most fundamental problem, namely the limited means of meeting human needs provided by nature (Triono, 2014: 163).

Thus, the fundamental problem in the discussion of the discipline of economics is scarcity. In other words, if there is no scarcity, in the sense that all goods are as abundant as air, then economics will disappear as a point of thought of economists.

Learn More

Learn more about characteristic makes a substance a mineral link

Keywords

- Basic Concept

- Scarce

A basic concept in economics is that all resources are scarce.

Option A

Explanation:

Economics is basically related to the study of resources which are scarce in relation where scarce means that they are not available in plenty and the quantity is less and have to be allocated properly so that they can be used properly.

Since these resources in the economy are not available in plenty, they have to be allocated in such a way that they are used in an efficient and a judicious way for the activities taking place in the economy.