Economics deals with how
A)individuals make decisions to use scarce resources in order to satisfy their unlimited wants.
B)to run a business successfully.
C)individuals become rich.
D)society can eliminate scarcity.
E)society creates more resources in order to raise its standard of living.

Question

Quizplus · Accepted Answer

Economics is concerned with how individuals, businesses, and governments make choices about how to allocate scarce resources to satisfy unlimited wants. It is not about running a business successfully, individuals becoming rich, or eliminating scarcity altogether. While economics can help improve a society's standard of living, it cannot create more resources.

Economics Deals with How