Economics is best defined as the study of how
A)individuals decide to use scarce resources in an attempt to satisfy their unlimited wants
B)to make money
C)the government should deal with unemployment and inflation
D)to eliminate the problem of scarce resources
E)to run a business

Question

Quizplus · Accepted Answer

Economics is the study of how people allocate scarce resources among alternative uses to satisfy unlimited wants. It is concerned with analyzing the production, consumption, and distribution of goods and services.

Economics Is Best Defined as the Study of How