Economics is primarily the study of:
A)how choices are made in a world of scarcity.
B)corporate balance sheets and income statements.
C)how to operate a business.
D)how to make money in the stock market.

Question

Economics is primarily the study of:
A)​how choices are made in a world of scarcity.
B)​corporate balance sheets and income statements.
C)​how to operate a business.
D)​how to make money in the stock market.

Quizplus · Accepted Answer

Economics is the study of how individuals, businesses, and societies use scarce resources to meet unlimited wants and needs. It analyzes how people make choices in a world with limited resources and unlimited demands. It deals with topics such as production, distribution, consumption, and trade of goods and services, as well as issues like inflation, unemployment, and economic growth. Corporate balance sheets and income statements, operating a business, and making money in the stock market are all important aspects of economics but are not its primary focus.

Economics Is Primarily the Study Of