Among competing issues,the most important concern of economics is with the:
A) degree of competition in stock and bond markets in the economy.
B) efficient use of limited productive resources to satisfy economic wants.
C) issue of equality in the distribution of income and wealth among households.
D) budget deficits in the domestic economy and trade deficits in the international economy.

Question

Quizplus · Accepted Answer

Economics is primarily concerned with the allocation of scarce resources to satisfy unlimited human wants. Therefore, the most important concern of economics is to ensure that these limited resources are efficiently used to satisfy people's wants and needs. The other options are significant issues in economics, but they are not the most important concern.

Among Competing Issues,the Most Important Concern of Economics Is with The