The study of how people try make choices to satisfy seemingly unlimited and competing needs and wants.

OPPORTUNITY COST

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A	Economics
B	Scarcity
C	Paradox of Value
D	Utility

Explanation:

Detailed explanation-1: -ECONOMICS is the study of how people try to satisfy what appears to be seemingly unlimited and competing wants through the careful use of relatively scarce resources. II. NEEDS AND WANTS A.

Detailed explanation-2: -One of the defining features of economics is scarcity, which deals with how people satisfy unlimited wants and needs with limited resources.

Detailed explanation-3: -Economics is the social science dealing with the study of how people satisfy seemingly unlimited and competing wants with the careful use of scarce resources.

Detailed explanation-4: -Economics is the study of how people seek to satisfy their needs and wants by making choices.

There is 1 question to complete.