Which of the following is correct?
A)The word economy comes from the Greek word for "rational thinker."
B)Economists study the management of scarce resources.
C)Because economists believe that people pursue their best interests,they are not interested in how people interact.
D)All of the above are correct.

Question

Quizplus · Accepted Answer

This choice is the only one that accurately reflects a key aspect of economics - the study of how to allocate scarce resources. A is incorrect because the word economy actually comes from the Greek word for "household management," not "rational thinker." C is incorrect because economists are actually very interested in how people interact and make decisions in pursuit of their individual self-interest, as this drives market behavior.

Which of the Following Is Correct