'Choice arises because of scarcity of resources',In discussing this statement, Which of the following is NOT correct?
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- A Human wants are numerous but the resources needed to satisfy them are limited
- B Given numerous wants and limited resources only individuals and businesss firms make choice
- C The process of making a choices involves opportunity cost
- D An economist is not interested morality or otherwise of any choice so made
- E Usually choice is made from a list of wants compliled in the context of a scale of preference
Correct Answer: Option B
Explanation:
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