CA foundation economics

Chapter I, Unit II Economy & Role of Price Mechanism

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Q.1) Economists regard decision making as important because:

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Correct

Economists regard decision making as important because all the options mentioned in the question are correct. The resources required to satisfy our unlimited wants and needs are finite, or scarce. It is crucial to understand how we can best allocate our scarce resources to satisfy society’s unlimited wants and needs. Resources have alternative uses.
ans: (d)

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