Economics is best described as the:
A) study of choice when scarcity exists.
B) study of how businesses earn profit.
C) theory of consumer behavior.
D) science of money.
E) art of spending money wisely.
Correct Answer:
Verified
Q1: The fact that people have unlimited wants
Q2: Economists classify all of the following as
Q3: Alan is a retired economist who enjoys
Q8: Economics:
A)studies human behavior when scarcity exists and
Q10: The problem of scarce resources:
A)means that there
Q16: Which of the following statements regarding the
Q19: Which of the following is the fundamental
Q29: Natural resources are
A)not considered scarce because no
Q33: When economists refer to capital, they might
Q49: Benjamin works as an economist for the
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