Question : Difference between resources and human wants
Option 1: Resources are scarce but human wants are unlimited
Option 2: Resources have alternative uses and human wants differ in priorities
Option 3: Both 1 and 2
Option 4: None of these
Answer (1)
22nd Jan, 2024
Correct Answer: Both 1 and 2
Solution : Following are the differences in resources and human wants:
| Basis | Resources | Human Wants |
| 1. Scarcity | They are scarce. | They are unlimited. |
| 2. Uses | They have alternative uses. | They differ in priorities. |
Hence, the correct option is 3.
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