Problem of choice is unavoidable in the ordinary business of life. How?

Yes,its true.We all have limited resources which we have to utilize in a way that we get maximum satisfaction. There are million ways and rather million consumption bundles which can give us infinite satisfaction but what makes this optimization problem sensible are the constraints. For instance we have RS 10,000 and we have to buy furniture for our home.With Rs 10000 either we can buy a table or a sofa or set of chairs or chest of drawers.So,we have to make a choice!!SO constraints arise the situation of choice and we face it regularly.

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we face scarcity because the things that satisfy our wants are limited. this limited resources have alternative uses. this gives riseto the problem of choice between different commodities

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