Human wants are unlimited, but the resources necessary to satisfy those

Human wants are unlimited, but the resources necessary to satisfy those wants are limited. Trus everi society is fased with the identical problem the problem of scarcity. Since there is not enough of everything to go about everyone - individuals business films and government - needs to make choices from among the things they want, In the process they will try to economize, to get the most from what they have. With this in mind we can define economics as the social science that describes and analyzes choices from among scarce reources to satisfy its wants. The need to choose is imposed on us by our income, wealth and ability to borrow. The food you eat, the home you live in, the clothers you wear,and the way you spend your leisure time are all affected, in part by economic forces. The study of economics will help you to live afuller life. Economic forces also affect decisions in the world of business. The more you know about the subject, the better carreer decisions you will be able to make.