Examlex
When electromagnetic radiation is destroyed it is said to be
Scarce
Denotes the fundamental economic problem of having seemingly unlimited human wants in a world of limited resources, which necessitates prioritization of resource allocation.
Choices
Decisions made by individuals or organizations among two or more alternatives.
Rational Government
The concept of a government acting based on reasoned decisions, typically aiming for the most economically efficient outcomes that maximize social welfare.
Satisfy Unlimited Wants
The economic principle that refers to the constant desire for goods and services exceeding the limited resources available to fulfill those desires.
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