Economics is the study of:
A) the allocation of scarce resources and the ways in which human decision makers utilize those resources.
B) the methods that human decision makers use to transform a scarce good into a non-economic good.
C) how to operate a business successfully.
D) a utopian society.
E) how to make money in the stock market.
Correct Answer:
Verified
Q31: Opportunity cost is best defined as the:
A)sum
Q32: To say that something is scarce means
Q33: The basic economic problem is:
A)inflation.
B)unemployment.
C)poverty.
D)scarcity.
E)lack of money.
Q34: To say that there is a scarcity
Q35: Which of the following statements is false?
A)Economists
Q37: Which economic concept is illustrated by the
Q38: If you must make a choice about
Q39: To an economist, scarcity means that:
A)it is
Q40: Which of the following is a result
Q41: Figure 1.2 
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