Economics is the study of how to allocate limited resources to satisfy unlimited wants. This includes the study of production, consumption, and distribution of goods and services, as well as the behavior and interactions of individuals, firms, and governments in the economy.

Solved

Economics Is

Question 12

Multiple Choice

Economics is

A) the narrow study of how to make money in financial markets
B) the broad study of how to allocate unlimited resources to satisfy limited uses
C) the broad study of how to allocate limited resources to satisfy unlimited wants
D) the narrow study of using stocks and bonds to their maximum potential
E) the narrow study of how to be conservative in financial affairs

Correct Answer: