Every society must develop a system for deciding how it will use its resources so that it can:

• A. ensure that all goods are produced in equal quantities
• B. eliminate the need for opportunity cost
• C. avoid making any economic choices
• D. allocate scarce resources to satisfy unlimited wants

Answer: (D)

Verified step by step guidance

1. Understand the fundamental economic problem: scarcity means resources are limited, but human wants are unlimited.
2. Recognize that because resources are scarce, societies must make choices about how to allocate these resources efficiently.
3. Identify that the purpose of an economic system is to decide what to produce, how to produce, and for whom to produce, given these constraints.
4. Note that producing all goods in equal quantities is neither efficient nor realistic, and opportunity cost cannot be eliminated because choosing one option always means giving up another.
5. Conclude that the correct goal of any economic system is to allocate scarce resources in a way that best satisfies unlimited wants, which involves making informed economic choices.