Question

Fundamental economic problems basically arise from Select one: a. the fact that society has more than it needs. b. turmoil in the stock market. c. the unequal distribution of income. d. a society's wants exceeding its scarce resources.

Answer 1

D) a society's wants exceeding its scarce resources.

Step-by-step explanation:

All resources are scarce, starting with time, money, materials, everything. Even the richest person or corporation in the world, has a limited amount of money (it may be huge, but it is still limited). There is not enough to satisfy the needs of society, not enough food, money, cars, clothes, phones, TVs, space, etc.

There are some things that seem to be unlimited though, and those are our needs, wants and desires. One of humankind's greatest defects is that there is no balance (or enough) in our lives, we always want more and more. That is why we are killing our own world and justify it by saying that our lives are getting better.