The study of economics focuses on:
A) The behavior of successful businesses.
B) The role of money in our economy.
C) How best to allocate scarce resources.
D) The elimination of opportunity costs.

Question

Quizplus · Accepted Answer

The study of economics is primarily concerned with how best to allocate scarce resources to maximize efficiency and meet society's needs. While money does play a role in this process, it is not the sole focus of economics. Additionally, economics acknowledges the reality of opportunity costs, which cannot be eliminated. Examining the behavior of successful businesses may be a component of studying economics, but it is not the primary focus.

The Study of Economics Focuses On