Examlex
The principles of continuity and closure best illustrate that
Economizing Problem
The issue of limited resources to meet unlimited wants, necessitating choices and prioritizations in the use of resources.
Limited Resources
The finite availability of inputs or resources (labor, capital, land) that can be used for the production of goods and services.
Unlimited Wants
The economic concept that human desires and needs are constant and infinite, whereas the resources to fulfill them are limited.
Best Use
Optimal allocation or application of resources to maximize efficiency or value.
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