Economics is best defined as the
A)study of how people make choices to satisfy their wants.
B)study of individual self-interests.
C)study of how government can most efficiently raise funds by taxation.
D)process by which goods are sold in free markets.

Question

Quizplus · Accepted Answer

Economics is the study of how individuals and societies choose to allocate scarce resources to satisfy their unlimited wants and needs. It involves analyzing the production, distribution, and consumption of goods and services, as well as the behavior of individuals and organizations in response to economic incentives.

Economics Is Best Defined as the