Question

Why is it in our self-interest to economize or pick and choose goods and services that maximize our satisfaction? Because of our limited incomes conflicting with our insatiable wants for goods and services Because of our unlimited incomes conflicting with our insatiable wants for goods and services Because some goods and services are less expensive than their substitutes so we should choose those cheaper items Because of our limited incomes conflicting with our limited wants for goods and services

Answer 1

Answer:

The correct answer is the first option: Because of our limited incomes conflicting with our insatiable wants for goods and services.

Explanation:

To begin with, in the microeconomics theory, the individuals agents that are the consumers are all the time trying to satisfy their needs due to the fact that there is an unlimited desire for goods and services that keep continue to grow all the time and that conflicts with the fact that most of the people have only few and limited resources to get the necessary income to obtain all of those goods and services. That is why that the consumers always look for the way to maximize their satisfaction according to the available income that they have with the purpose to spend it on those goods and services.