Economics
A) started as a business application.
B) can never be defined.
C) is the study of unlimited wants but limited resources.
D) has no "real world" relevance.

Question

Quizplus · Accepted Answer

Economics is concerned with the study of how societies allocate their resources among competing demands for goods and services. Since people's wants are virtually limitless, but the resources that they need to satisfy those wants are finite, economics must make choices about how to allocate these resources in the most efficient and equitable manner possible.