Q299
Economics is the study of
A.
how society manages its unlimited resources
B.
how to reduce our wants until we are satisfied
C.
how society manages its scarce resources
AnswerD.
how to fully satisfy our unlimited wants
Answer: Option C
Solution
Answer: Option C
Solution:
Economics is the study of how society manages its scarce resources. Resources are scarce in that we have fewer resources than we wish. Economists study how people make decisions about buying and selling, and saving and investing.