What is economics primarily the study of?
A) how firms compete for profits in the marketplace
B) how limited resources are allocated to satisfy unlimited wants
C) how we deal with unemployed resources
D) how prices are set in the marketplace

Question

Quizplus · Accepted Answer

Economics is primarily the study of how limited resources are allocated to satisfy unlimited wants. It deals with how individuals, businesses, and governments make decisions about allocating resources to maximize their utility or benefit. While competition and prices are important factors in economics, they are not the primary focus. Unemployment is also a concern in economics, but it is not the primary purpose of the field.

What Is Economics Primarily the Study Of