Economics is the study of how people seek to satisfy their needs and wants by making choices

SCARCITY

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

A	True
B	False
C	Either A or B
D	None of the above

Explanation:

Detailed explanation-1: -Economics is the study of how people allocate scarce resources for production, distribution, and consumption, both individually and collectively.

Detailed explanation-2: -Economics is the study of how people seek to satisfy their needs and wants by making choices.

Detailed explanation-3: -Economics is study of how people make choices under conditions of scarcity, and of the results of those choices for society. Economics: Micro and Macro. The study of individual choice under scarcity and its implications for the behavior of prices and quantities in individual markets.

Detailed explanation-4: -The study of the choices that people make to satisfy their needs and wants is called ECONOMICS. A person who studies these economics choices is called an ECONOMIST.

There is 1 question to complete.