Which assumption below best reflects a basic understanding economists have about the world? Group of answer choices The world has limited productive resources. There are limited wants. More output creates more wants. Output will always satisfy the needs of a society.

The assumption which best reflects a basic understanding that economists have about the world is:

The world has limited productive resources.

Explanation:

This is the economic concept of scarcity.  Scarcity is the concept of limited resources, which worries about the gap between societal resources and unlimited human wants. Economists try to explain that this situation of scarce resources requires the making of choices (decisions) that will ensure the efficient allocation of the resources to meet basic human needs and other increasing wants.

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