The study of how people satisfy unlimited wants with limited resources is called Economics.
Economics studies the production, distribution, and how people consume products and services in a determined market. Economics based its studies on the belief that resources are limited but people in a society have many wishes, desires, wants, and needs. So Economics studies all the factors involved in the process of getting raw materials and natural resources, fabrication, supply, delivery and the prices people pay to get something they want or need.
American colonists protested the stamp act because it was a tax imposed on them by the british parliament instead of their elected colonial legislatures. they believed it was unjust to be taxed without their consent by unelected rulers.
