The central problem in economics is that of?

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Comparing the success of command versus market economies.

Guaranteeing a minimum level of income for every citizen.

Guaranteeing that production occurs most efficiently.

Allocating scarce resources in such a manner that society's unlimited needs or wants are satisfied as well as possible.

answer is D.

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Detailed Solution

The central problem in economics is often referred to as the problem of scarcity, which arises due to the limited availability of resources relative to society's unlimited wants and needs. Therefore, the fundamental task of economics is to allocate these scarce resources efficiently in such a way that they can satisfy as many of society's wants and needs as possible.

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