Economics JAMB

Human wants are insatiable because wants are _________?

A. Limited while means are scarce
B. Unlimited and means are also unlimited
C. Limited and means are also limited
D. Unlimited while means are scarce.

Correct Answer:

Option D – Unlimited while means are scarce

Explanation

Want may be defined as insatiable desire or need by human beings to own goods or services that give satisfaction. Human wants or needs are many, and are usually described as insatiable because the means of satisfying them are limited or scarce

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