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- Introduction To Economicseconomics-mcqs › introduction-to-economics
- Published
- 26 May 2019
- Last updated
- 28 May 2026
Why must trade-offs be made in economics considering human desires and available resources?
Multiple choice question for Introduction To Economics. Select an option, then review the explanation below.
Explanation
Trade-offs occur because human wants are endless, but the resources to fulfill these wants are limited in supply, requiring choices to be made.
More Introduction To Economics MCQs
Practice related questions from the same subject.
- 1.Which of the following factors directly influences the supply curve?
- 2.Under what condition is a market considered to be in equilibrium?
- 3.What type of relationship is depicted when a graph shows that as the values on the horizontal axis increase, the values on the vertical axis decrease?
- 4.Which two elements are essential to construct a straight-line graph?
- 5.How can a nominal value be converted into a real value?