Through production, ____ is created, and human wants are satisfied.

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Detailed Solution

Through production, economic utility is created, and human wants are satisfied.
Human wants are unlimited. But the resources that could be used to satisfy the unending human needs are limited. However, economic utility is obtained through the production of goods and services. The economic utility is when a person can get satisfaction by consuming a good or service. It might be from the consumption of chocolate, buying a new vehicle, or even buying a new dress. Some people also enjoy economic utility through the attainment of services like transportation, banking, education, etc. The economy provides economic utility by producing different goods and services that the consumer needs.

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