Economics is best defined as
A) controlling a budget for a household.
B) making choices from an unlimited supply of goods and services.
C) how people make money and profits in the stock market.
D) making choices with unlimited wants but facing a scarcity of resources.
Correct Answer:
Verified
Q15: The study of economics
A) deals mainly with
Q16: Economics is best defined as the study
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
Q21: Which of the following is a microeconomic
Q22: In part, microeconomics is concerned with
A) factors
Q23: Studying the determination of prices in individual
Q24: In part, microeconomics is concerned with the
Q25: Which of the following is a macroeconomic
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