Economics is the study of
A) how to make money.
B) how to allocate resources to satisfy wants and needs.
C) capitalism.
D) how to make workers more productive and firms more profitable.
E) markets.

Question

Quizplus · Accepted Answer

Economics is the study of how societies allocate their scarce resources to satisfy their unlimited wants and needs. It examines how individuals, businesses, governments, and other organizations make decisions about production, consumption, and distribution of goods and services. Economics is not solely focused on making money, capitalism, or making workers and firms more productive and profitable, although these may be areas of study within economics. Markets are also studied in economics, but they are not the sole focus of the discipline.

Economics Is the Study of