The fundamental concept in the study of economics is:
A) scarcity.
B) political decision-making.
C) our natural resources.
D) human wants and desires.

Name: The fundamental concept in the study of economics is: A) scarcity. B) political decision-making. C) our natural resources. D) human wants and desires.
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Question

Quizplus · Accepted Answer

Scarcity is the fundamental concept in economics because it addresses the basic economic problem that resources are limited while human wants are unlimited, necessitating choices and trade-offs.

The Fundamental Concept in the Study of Economics Is