The basic truth that underlies the study of economics is the fact that we all face
A) death.
B) taxes.
C) risk.
D) scarcity.

Question

Quizplus · Accepted Answer

Scarcity is the fundamental problem of economics, as we have to make choices due to limited resources and unlimited wants. This is the core concept that drives the study of economics. While death and taxes are relevant in certain economic contexts, they are not the overarching principle that guides decision-making in the field. Risk is also a significant factor in some areas of economics, but it isn't as universally applicable as scarcity.

The Basic Truth That Underlies the Study of Economics Is