WAEC Economics 2016 Objective — Question 1
Question 1 of 50 from the West African Examinations Council (WAEC) Economics 2016 Objective paper, with the correct answer and a full explanation.
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1. 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 unlimited (d) unlimited while means are scarce
- A. limited while means are scarce
- B. unlimited and means are also unlimited
- C. limited and means are also unlimited
- D. unlimited while means are scarceCorrect
Explanation
Human wants are unlimited but the resources (money) to satisfy the wants are scarce (limited).
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