Economics is best defined as the social science that studies
A)the way to eliminate choices in our decisions.
B)how a person can get everything he or she wants.
C)the choices that societies, and the people and institutions that make up societies, make in dealing with the issue of scarcity.
D)how choices made in the social interest must conflict with choices made in the self-interest.
E)the reason money exists.

Question

Quizplus · Accepted Answer

Economics is the study of how societies allocate scarce resources to meet the needs and wants of individuals and institutions, focusing on the choices made due to scarcity.

Economics Is Best Defined as the Social Science That Studies