The study of how nations deal with the problem of scarcity is the domain of
A)economics
B)political science
C)sociology
D)political economy
E)anthropology

Question

Quizplus · Accepted Answer

The study of scarcity and how nations deal with it is the core domain of economics. Political science deals with the study of the governance systems of nations, while sociology focuses on studying social behavior and relationships within societies. Anthropology is concerned with the study of human societies, cultures, and their development. Political economy is a branch of economics concerned with the impact of political and economic systems on each other. But economics is primarily concerned with the allocation of scarce resources and how to make the most efficient use of them.

The Study of How Nations Deal with the Problem of Scarcity