Economics is best defined as the study of how:
A) people make decisions in a world of scarcity.
B) governments can influence the social structure.
C) to separate the executive from the legislature and the judiciary.
D) individuals can participate in electing their representatives to the government.
E) to change the class structure of an economy.
Correct Answer:
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Q1: Economics is best described as the:
A) study
Q2: Which of the following sentences is the
Q4: The fact that people have unlimited wants
Q5: Michigan has an abundant supply of fresh
Q6: Which of the following is an example
Q7: Which of the following would an economist
Q8: When economists refer to human capital, they
Q9: Which of the following fundamental resources is
Q10: A resource is something that:
A) is used
Q11: Natural resources are:
A) not considered scarce because
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