Sovi.AI - AI Math Tutor

Scan to solve math questions

QUESTION IMAGE

economics is a. the study of how unlimited resources are allocated to s…

Question

economics is
a. the study of how unlimited resources are allocated to satisfy limited wants.
b. the study of how the stock market works.
c. the study of how limited resources are allocated to satisfy unlimited wants.
d. the study of money.

Explanation:

Brief Explanations

Economics deals with the fundamental problem of scarcity. Resources are limited while human wants are unlimited. It focuses on how to allocate these scarce resources efficiently. The stock - market study is part of finance in a way and money study is also too narrow. The core of economics is resource allocation to meet unlimited wants.

Answer:

C. the study of how limited resources are allocated to satisfy unlimited wants.