Question

1. economics is defined as:

the study of how individuals, businesses, and societies make decisions to maximize their well-being given limited resources.
the study of the fundamental nature of problems, such as those connected to reality and existence.
the study of human culture and its evolution over time around different regions across the world.
study of how individuals and society use unlimited resources to fulfill their needs and wants.
© macmillan learning

Explanation:

• The first option: Economics deals with choices under scarcity (limited resources) to maximize well - being for individuals, businesses, and societies.
• The second option: This describes philosophy (study of fundamental nature of reality, existence, etc.), not economics.
• The third option: This is anthropology (study of human culture and its evolution), not economics.
• The fourth option: Resources in economics are scarce, not unlimited, so this is incorrect.

Answer:

the study of how individuals, businesses, and societies make decisions to maximize their well - being given limited resources.