Based on the lesson, how are individuals and economies similar?

A. They both must decide how to allocate resources.

B. They both must carefully categorize available resources.

C. They both must recognize the issues with nonrenewable resources.

D. They both must choose whether to use more renewable resources.

Answer:-

A. They both must decide how to allocate resources.

Explanation:

Individuals and economies would understand how to allocate their resources.

If there is a scarcity of resources, output will be disrupted, impacting the economy. They must be mindful of how they share their resources. Similarly, an individual supports his family’s economy. He should understand how to allocate his resources effectively in order to manage his and his family’s finances.  As a result, Option A is the most appropriate statement.  They must not only categorize the accessible resources as per Option B, but also consider the non-renewable or unavailable resources. Option C and Option D are both incorrect because there are two types of resources, renewable and non-renewable, both of which are significant.

They both must decide how to allocate resources. They must both intelligently categorize available resources. They should both identify the problems associated with nonrenewable resources.