Economics is a social science that involves the study of how individuals,firms,and societies:
A) maximum happiness.
B) maximize incomes.
C) choose among alternatives to satisfy their unlimited wants.
D) develop their tastes and preferences.

Question

Quizplus · Accepted Answer

Economics is concerned with the allocation and management of scarce resources to satisfy unlimited wants. This choice best describes the fundamental problem that economists study, which is how individuals, firms, and societies make choices among alternative uses of their scarce resources to satisfy their unlimited wants.

Economics Is a Social Science That Involves the Study of How