QUESTION IMAGE
Question
what is a system of making, moving, selling, buying, and using things?
- scarcity
- economics
- trade
- opportunity cost
Brief Explanations
- Scarcity refers to limited resources relative to wants, not the full system of production, exchange, and use.
- Economics is the social science that studies the system of producing, distributing (moving), selling, buying, and using goods and services.
- Trade is only the buying and selling/exchange part, not the full system including making and using.
- Opportunity cost is the value of the next best alternative foregone, unrelated to this system.
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B. economics