Fundamentally, the central problem of economics has always been about scarcity necessitating choice, and hopefully that choice made by individuals, organisations like firms, or governments is a rational choice, although that is not always the case (since humans can be quite irrational). How this statement can be explained, however, can take on various forms, and the most common form is the one by Lord Lionel Robbins of the LSE (you can read up on him if you are interested).
Therefore, the question arises: what would be the "standard" or proper examination technique for responding to this Economics essay question? How would Lord Lionel Robbins, famous for defining economics and for utilising the scarcity and choice approach, answer this question? Do also think about other alternative ways of approaching this question.Other than this creative and interesting approach, how else could this have been answered? Thank you for reading, and cheers.