Economics can usefully be defined as
A) the process by which goods are sold in free markets.
B) the study of how government can most effectively raise funds through taxation.
C) the study of how people allocate limited resources to try and satisfy their many wants.
D) the study of individual self-interests.
Correct Answer:
Verified
Q16: Which of the following statements about scarcity
Q17: In economic language,when a resource is used
Q18: In producing goods and services,trade-offs exist between
Q19: In economics,the things that people would consume
Q20: Economists do NOT refer to individual resources
Q22: Physical capital includes
A)training programs for workers.
B)improvements to
Q23: Microeconomics concentrates on _.
Q24: In economic terminology,the accumulated experience,training and education
Q25: In economics,things that are used to produce
Q26: Which statement most accurately defines economics?
A)Economics is
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