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Economics
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28 Feb 2020

Economics as a social science deals with:

 

a) optimum utilization of scarce resources.

b) overutilization of scarce resources.

c) wastage of resources because scarcity is just a myth.

d) None of the above.

 

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Nelly Stracke
Nelly StrackeLv2
28 Feb 2020
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Principles of Economics
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ISBN: 9781947172364
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Related questions

Economics is the study of:

a.) The efficient use of scarce resources paid for at the minimum level of cost to consumers and businesses.

b.) How people, institutions, and society make choices under conditions of scarcity.

c.) Increasing the level of productive resources so there is a minimum level of income.

d.) Increasing the level of productive resources so there is maximum output in society.

Economics is best defined as the study of how

a. individuals decide to use scarce resources in an attempt to satisfy their unlimited wants

b. to make money

c. the government should deal with unemployment and inflation

d. to eliminate the problem of scarce resources e. to run a business 

The crucial problem of economics is:
 
A) Establishing a fair tax system
B) Providing social goods and services
C) Developing a price mechanism that reflects the relative scarcities of products and resources
D) Allocating scarce productive resources to satisfy wants
E) Enacting a set of laws that protects resources from overuse

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