The perpetual problem of scarcity forcing people to make choices is the basis for the definition of economics.

Name: The perpetual problem of scarcity forcing people to make choices is the basis for the definition of economics.
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Question

Quizplus · Accepted Answer

The definition of economics is centered around the idea that resources are limited (scarcity) and that people must make choices in how to allocate and utilize those resources. Therefore, the statement is true.

The Perpetual Problem of Scarcity Forcing People to Make Choices