Answer:
False
Explanation:
The basic principles of the study of economics is that society and its individuals have limited wants is FALSE.
The society and it's individuals have UNLIMITED wants.
Wants are desires or needs of a person or society such as desire to own a car, build a house, provide social amenities etc.
These wants are numerous and can be satisfied with LIMITED RESOURCES.
The basic principles of the study of economics is the satisfaction of unlimited wants with limited resources.
