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- Excessive income: Not typically a concern in the problem of choice, as it implies having more than enough resources to meet wants. The focus is on scarcity and the need to make choices.
- Correct Answer: Excessive income
- Alternative use of resources: Integral to the problem of choice, as resources have various potential uses. Deciding among these uses is a key economic problem.
- Unlimited wants: Central to the problem of choice because wants exceed the capacity of resources, forcing decisions on which wants to satisfy.
- Limited (scarce) resources: Scarcity is fundamental to economic choice. Resources are limited, necessitating prioritization and choices regarding their use.
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