Economics is best defined as the study of how people, businesses, governments, and societies
A) use their infinite resources.
B) attain wealth.
C) choose abundance over scarcity.
D) make choices to cope with scarcity.
Correct Answer:
Verified
Q11: People must make choices because
A) there are
Q12: Fundamental economic problems basically arise from
A) the
Q13: When an economist talks of scarcity, the
Q14: Scarcity can be eliminated through
A) exploration that
Q15: The study of economics
A) deals mainly with
Q17: The problem of ʺscarcityʺ applies
A) only in
Q18: An inducement to take a particular action
Q19: Economists point out that scarcity confronts
A) the
Q20: Economics is best defined as
A) controlling a
Q21: Which of the following is a microeconomic
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