Economics is the study of
A) the allocation of scarce resources to satisfy unlimited wants.
B) why some people want certain goods and services.
C) earning the most income.
D) ways to use fewer resources.

Question

Quizplus · Accepted Answer

Economics is primarily concerned with the efficient allocation of scarce resources to satisfy unlimited human wants and needs. It is the study of how individuals, businesses, and governments make decisions about how to use these resources in order to maximize their satisfaction or utility. While economics may include considerations of income and resource use efficiency, these are not its primary focus, and it is not concerned with why people want certain goods and services as an end in itself.

Economics Is the Study of