We have to make choices because: ? we have unlimited income and must decide what to purchase. ? the resources available to us are limited. ? the resources we would like to use in production are infinite. ? with good planning, trade-offs can be avoided.
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The text provided is unclear and contains several errors. It seems to be a question related to scarcity and how to deal with it as an agent of the economy.
Azat N.
"Q17. The choice on production possibilities set that is socially preferred, or the choice on an individual's budget constraint that is personally preferred, will display A. allocative efficiency the production possibilities frontier C. trade-offs D. scarcity"
Sanchit J.
Because scarcity exists, people must make choices. Explain why.
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