Because resources are scarce relative to human wants,economics is best described as:
A)the science of allocating productive resources fairly
B)a science of choice
C)the science of allocating goods and services fairly
D)the set of natural laws that govern human behavior in the face of adverse conditions

Question

Quizplus · Accepted Answer

Economics is the science of how individuals and societies allocate scarce resources to satisfy unlimited wants. Therefore, it involves making choices or trade-offs between different alternatives. Hence, option B is the most appropriate description of economics.

Because Resources Are Scarce Relative to Human Wants,economics Is Best