yes economics tells that we have unlimited wants bt limited source to satisfied this can be understood by following example a poor man who wants that his children go to the school for education so that they can earn their livelihood but a rich man also wants that his children go to school and also get higher education for their better future but at a time they both were not happy, their wants can't satisfied both of them thinks more then what they have.... their wants are unlimited .

**Unlimited Wants and Limited Resources**

In the realm of economics, the concept of unlimited wants and limited resources is a fundamental principle that helps explain the decisions individuals, businesses, and societies make. It recognizes that human desires and needs are essentially infinite, while the resources available to fulfill them are scarce. Here, we will delve into the reasons behind this phenomenon and provide a detailed explanation.

**Scarcity and Unlimited Wants**

Scarcity lies at the core of the limited resources conundrum. It refers to the insufficiency of resources to satisfy all human wants and needs. This scarcity can be attributed to various factors, including the finite availability of natural resources, time constraints, and the limitations of human labor and capital.

On the other hand, human wants and desires are boundless. From basic necessities like food, shelter, and clothing, to more complex and diverse desires such as luxury goods, travel experiences, and personal growth, people consistently seek to fulfill their ever-expanding range of needs.

**The Pursuit of Satisfaction**

As individuals, we strive to maximize our satisfaction by allocating resources to fulfill our most pressing wants. This process involves making choices and trade-offs, as resources are limited and must be allocated efficiently. For example, if a person has limited funds, they may choose to prioritize purchasing food and paying rent over buying non-essential items.

Similarly, businesses and societies face the challenge of allocating resources effectively. They must determine which wants and needs to satisfy, considering factors such as demand, profitability, and societal well-being. This decision-making process often involves prioritizing certain wants over others, leading to the concept of opportunity cost.

**Opportunity Cost and Trade-offs**

Opportunity cost refers to the value of the next best alternative forgone when making a choice. When resources are limited, selecting one option means sacrificing others. For instance, if a government invests heavily in education, it may have to reduce spending on healthcare or infrastructure. Such trade-offs are inevitable due to the scarcity of resources.

**Conclusion**

In conclusion, the concept of unlimited wants and limited resources is a fundamental principle in economics. It recognizes that human desires are infinite, while resources to fulfill them are scarce. Consequently, individuals, businesses, and societies face the challenge of allocating limited resources efficiently to maximize satisfaction. By understanding the concept of scarcity, opportunity cost, and trade-offs, we can make informed decisions and strive for the most effective utilization of our resources to meet our unlimited wants.