Question

economics is best defined as the study of
a. financial markets and making money.
b. how to budget personal income.
c. how the government runs the financial system.
d. how people allocate limited resources to satisfy unlimited wants.

Explanation:

Economics focuses on the fundamental problem of scarcity. It examines how individuals, businesses, governments, and societies allocate limited resources to satisfy unlimited wants. Options A, B, and C are too narrow in scope compared to the core concept of resource - allocation in economics.

Answer:

D. how people allocate limited resources to satisfy unlimited wants.