Our basic economic problem would be solved if
A)everyone were given $500,000.
B)our population stopped growing.
C)all sickness and disease were wiped out.
D)our wants could be satisfied with available resources.

Question

Quizplus · Accepted Answer

Our basic economic problem is scarcity, which means we have unlimited wants but limited resources. The best solution, therefore, would be if our wants could be satisfied with available resources. Option A would create inflation and not all problems can be solved with money. Option B is not a practical solution as it is not ethical and not desirable. Option C is a medical solution and although desired, cannot solve the basic economic problem of scarcity.

Our Basic Economic Problem Would Be Solved If