Economics, according to its definition, studies how people:
A) earn and spend money.
B) invest in the stock and bond markets.
C) make choices in the face of scarcity.
D) supply goods in response to demand.

Question

Quizplus · Accepted Answer

Economics is the study of how individuals, businesses, and governments make choices regarding the allocation of scarce resources. It is not solely focused on earning and spending money, investing, or supplying goods in response to demand. While these factors can play a role in economic study, the primary focus is on how choices are made and resources are allocated.

Economics, According to Its Definition, Studies How People