Whatever form an economic system may take, choice is essential for members of the community because resources are__________

Assessment: JAMB UTME - Economics - 2019 Subject: Economics

Question 1 Report

Whatever form an economic system may take, choice is essential for members of the community because resources are__________
Answer Details
Scarce. This means that there is not enough of a certain resource to meet the demand or needs of everyone in the community. As a result, choices have to be made about how to allocate these limited resources among different individuals, groups, or uses. When resources are scarce, it is important to make decisions about their use in the most efficient and effective way possible.
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