1 Unlimited Wants
Human wants are unlimited those wants can't be fulfill after fulfilled one another will appear there fore it is unpossible to satisfy all the wants.
2 Limited Means(resources)
Means available for satisfying those wants are limited or scarce since the man is not able to satisfy his unlimited wants with the limited resources.
3Alternative Use
All the wants can't be fulfilled by limited avialable means,some wants are more important and some are less and the resources are limited so that we have to fulfill our wants alternatively.
4 Wants Deffer in Urgency
all the wants are not equally important some wants are more urgency then other one, more urgency are satisfy firsr postponing the less urgency wants for a later date.for example medicine is more urgency then the cosmetic for girl.
5 Problem of choice
when the human wants are unlimited and the scarce means(resource)have alternative uses as well as wants differ in urgency.one has to make a choice as to when a particular wants should be satisfied .choice helps to derive maxmium satisfaction.
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