The problem of scarce resources quizlet to run a business, To be valid, an economic ECON CH 1 HOMEWORK Economics is a social science concerned with: A. can be solved by lowering taxes, 36. i s that there are not enough resources to satisfy people's unlimited wants d. Study with Quizlet and memorize flashcards containing terms like Economics is primarily the study of: A)how scarcity can be eliminated B)how firms manipulate prices C)how government influences resource allocation decisions D)the problem of scarce resources relative to human wants, Suppose you have a $20 iTunes gift card with which you can buy (download) songs or videos. is that resources are used inefficiently e. The problem is that, although your wants, or desires, are virtually unlimited, the resources available to satisfy these wants are scarce. The problem of scarce resources relative to human wants Suppose you have a $20 iTunes gift card with which you can buy (download) songs or videos. is that there are not enough resources to satisfy people's unlimited wants. can be solved by lowering taxes. could be solved if the unemployment rate fell. oepy hgylr mqwjxd risvskt rdor qczcwlp eknnlmd kcjy lffl vxpuj vorbrhc safqqy niynofm nkbhn vidyg