There would be no need to study economics if:
A) there were no government controls on people's actions.
B) people were free to do whatever they wanted with their lives.
C) there were enough resources to produce all the goods and services people would like to obtain.
D) all of the above.

Question

Quizplus · Accepted Answer

Economics is the study of how societies use scarce resources to produce valuable commodities and distribute them among different people. The need to study economics would be eliminated if there were enough resources to produce all the goods and services people desire, as scarcity is the fundamental economic problem that gives rise to the study of economics.

There Would Be No Need to Study Economics If