Question

The economizing problem is: the need to make choices because economic wants exceed economic means. how to distribute resources equally among all members of society. that people's means often exceed their wants. that people do not know how to rationally allocate resources.

Answer 1

The economizing problem is the need to make choices because the economic wants exceed the economic means. Economic wants are desires that can be satisfied by consuming a certain good, services or leisure activity whereas the economic means is concerned with the organization of money industries and trade of a country, region or a society.

Answer 2

The answer is "The need to make choices because economic wants exceed economic means" 


Scarcity is the principal financial issue of having apparently boundless human needs and needs in a universe of constrained assets. It expresses that society has to lack gainful assets to satisfy every single human need and needs. The shortage is the idea that we have restricted assets and can't take care of the boundless demand - it has nothing to do with a market cost.