The central question in economics is how to:
A) deal with the problem of scarcity.
B) change government economic policy.
C) change people's wants to match their needs.
D) manage money and become wealthy.

Question

Quizplus · Accepted Answer

The problem of scarcity, or the limited availability of resources to satisfy unlimited wants and needs, is the central economic problem that drives decision making at all levels. Economics is concerned with how to allocate scarce resources in the most efficient and effective way, as well as studying how people interact with one another in markets and other economic systems to exchange goods and services. Changing government policy, changing people's wants, and managing money are all important aspects of economics, but they are not the core question that economists seek to answer.

The Central Question in Economics Is How To