Choice is necessary because resources

Assessment: WAEC SSCE - Economics - 1991 (Objective) Subject: Economics

Question 1 Report

Choice is necessary because resources
Answer Details
Choice is necessary because resources are scarce. This means that there are not enough resources available to satisfy all the wants and needs of people. As a result, people have to make choices about how to allocate the resources they have in order to best meet their needs and wants. These choices involve trade-offs, where the decision to use a resource for one purpose means that it cannot be used for another purpose. Therefore, choice is necessary in order to make the best use of the limited resources available.

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