In economics, why must consumers, businesses, and governments make choices?

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asked May 5, 2018 85.3k views

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Sangie · Answer 1 · 2018-05-12T01:17:22+0000

Due to scarcity. There exist unlimited wants but only scarce amount of resources to meet those wants so items must be allocated through a system of prices or through exchange.

In economics, why must consumers, businesses, and governments make choices?

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