Which of the following best describes the study of economics?
A)why resources are scarce
B)how to limit human wants so that scarce resources are sufficient
C)how to distribute income as equally as possible
D)how to plan an economy
E)the allocation of scarce resources among alternative uses

Question

Quizplus · Accepted Answer

Economics is the study of how to allocate scarce resources among alternative uses. While the other options touch on certain aspects of economics, they do not capture the overall essence of the field.

Which of the Following Best Describes the Study of Economics