Economics is the study of how

Question

Quizplus · Accepted Answer

Economics is primarily concerned with understanding how individuals and societies make choices in the face of constraints. This includes analyzing how people allocate their limited resources (such as time and money) among various competing demands, how they respond to incentives, and how they weigh the costs and benefits of different options. While economics can provide insight into why people may act selfishly or how psychology can influence choices, ultimately its focus is on the economic calculations that people make when faced with scarcity. Therefore, the best choice is D: people make choices.

Economics Is the Study of How