Question

the study of how people, firms, and governments make decisions about how to allocate scare resources to meet unlimited wants is known as

scarcity

economics

capital

opportunity cost

Explanation:

Scarcity is the core condition that creates the need for such decision-making, capital is a type of resource, and opportunity cost is the value of the next best alternative foregone. Economics is the formal study of how people, firms, and governments allocate scarce resources to satisfy unlimited wants.

Answer:

B. economics