The primary objective of economics is
A) to learn how to create more resources.
B) to study how people make choices with limited resources.
C) to learn how to make the most profits with a given amount of resources.
D) to study why some people are never happy with the resources they have.

Question

Quizplus · Accepted Answer

Economics is the study of how people allocate their limited resources to satisfy their unlimited wants and needs. It is concerned with understanding how individuals, businesses, governments, and societies make decisions about the allocation of resources. Thus, option B is the primary objective of economics. Option A is incorrect because economics does not aim to create resources but to allocate them efficiently. Option C is incorrect as well because earning profits is a goal of businesses, not economics, which instead deals with the effects of resource allocation on the economy as a whole. Option D is incorrect since individual satisfaction levels do not fall under the scope of economics.

The Primary Objective of Economics Is