ECONOMICS
ENTREPRENEURS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A method used by a society to allocate goods and services among its people and to cope with scarcity.
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The government controls the production, allocation, and prices of goods and services.
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A social science concerned with how people satisfy their demands for goods and services when the supply of those things are limited.
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Operates to serve the good of society.
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Detailed explanation-1: -What Is Economics? Economics is a social science that focuses on the production, distribution, and consumption of goods and services, and analyzes the choices that individuals, businesses, governments, and nations make to allocate resources.
Detailed explanation-2: -< Principles of Economics. Economics is a social science that studies how people satisfy unlimited wants with scarce resources. It involves the analysis of choice and trade through. The discipline is divided into two sections: microeconomics (micro) and macroeconomics (macro).
Detailed explanation-3: -Economics is the social science that analyzes the production, distribution, and consumption of goods and services.
Detailed explanation-4: -One of the defining features of economics is scarcity, which deals with how people satisfy unlimited wants and needs with limited resources.