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1. State four reasons why choices must be made in satisfying human wants.

(4 marks)

Sagot :

GinnyAnswer

Final answer:

Choices in satisfying human wants are essential due to scarcity, opportunity cost, utility maximization, and economic efficiency.


Explanation:

Choice should be made in satisfying human wants for various reasons:

  1. Scarcity: Resources are limited, needs and wants are unlimited, so choices have to be made.
  2. Opportunity cost: By choosing one option, you give up the benefits of the next best alternative.
  3. Utility maximization: Individuals aim to maximize satisfaction by selecting the option that gives them the most benefit.
  4. Economic efficiency: Making choices allows resources to be allocated efficiently to meet diverse needs.

Learn more about Reasons for making choices in satisfying human wants here:

https://brainly.com/question/39313462


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