If, as the economic problem states, we have limited resources, but unlimited wants, what does this make individuals and societies do? For example, if you have saved $300 and there is a cell phone
you love for $250, but you also need to take a date to the prom, which will cost $300:
a. Can you do both? Why can you/why can't you?
b. What does this situation force you to do?
c. If you choose to purchase the cell phone, what must you give up (Remember, it is not just the money that you give up)?