Economics is best defined as the science of choice and how people cope with
A) differences in needs.
B) differences in wants.
C) different economic systems.
D) scarcity.
Correct Answer:
Verified
Q19: Scarcity can be eliminated through
A) wise use
Q20: Scarcity is common to all economic systems
Q21: The problem of "scarcity" applies
A) only in
Q22: One topic of study for a microeconomist
Q23: In part, microeconomics is concerned with the
Q25: The study of the decisions of individual
Q26: Which of the following is a macroeconomic
Q27: In every economic system, choices must be
Q28: Which of the following is an example
Q29: Economics is best defined as
A) making choices
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