Question

A basic underlying point in economists is that

Answer 1

Answer :-

A basic underlying point in economics is that people have unlimited wants in the face of limited resources.

Economics is the study of the allocation of scarce resources among alternative uses.Economics is generally not concerned with restricting the level of human wants.It deals with how the market process works in an environment of scarce resources. It is about how wealth is created and distributed in communities and how people with unlimited wants allocate these scarce resources.