Question 1
Basic ConceptsThe main economic objective behind the production of goods and services in any economy is to
- A.maximize profits
- B.satisfy human wants
- C.become self reliant
- D.create job opportunities
- E.make people wealthy.
Show the answer and explanation
Answer: B (satisfy human wants)
Explanation
Goods and services are produced in the end to satisfy human wants; profit and jobs are means or side effects.