D- While people's wants are unlimited, resources are limited. Economics itself is a study of how to allocate limited resources to satisfy unlimited wants. This emanates from a basic fact of human existence that individuals are never totally satisfied with the quantity and variety of goods and services they consume. Basically, people never acquire enough. They always have something else they need or want. These two problems of limited resources and unlimited wants has afflicted humanity since time immemorial. In fact, war as a human tradition emanated out of the need to satisfy unlimited human wants and needs in a resource limited environment.
