The basic goal of economics is:
A) controlling the effects of government actions.
B) determining how to distribute all that is produced in an economy.
C) addressing the scarcity problem created because the population's desire for goods exceeds the ability to produce them.
D) matching limited resources to people's limited wants and needs.
E) controlling tastes and wishes so that there will be enough resources to produce all the goods and services that people want.

Question

Quizplus · Accepted Answer

The basic goal of economics is to address the scarcity problem created because the population's desire for goods exceeds the ability to produce them. This is the fundamental problem that economics seeks to solve through various methods such as allocation of resources and determining the best use of resources.

The Basic Goal of Economics Is