The study of economics is primarily concerned with:
A)keeping private businesses from losing money.
B)demonstrating that capitalistic economies are superior to socialistic economies.
C)choices which are made in seeking to use scarce resources efficiently.
D)determining the most equitable distribution of society's output.

Question

Quizplus · Accepted Answer

Economics is concerned with how societies allocate scarce resources to produce goods and services for consumption. This involves understanding the choices individuals and societies make about the production, distribution, and consumption of goods and services. While it is important for private businesses to be profitable, this is not the primary concern of economics. Additionally, economics is not focused on demonstrating the superiority of one economic system over another, nor is it solely concerned with determining the most equitable distribution of society's output.

The Study of Economics Is Primarily Concerned With