ECONOMICS
SCARCITY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Because the state requires that we do so and we just love learning about the economy
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To become independently wealthy
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Because we want to graduate
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Although all these answers are technically correct, the most correct answer is:to learn how to make wise decisions to satisfy unlimited wants using limited resources.
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Detailed explanation-1: -The study of economics helps people understand the world around them. It enables people to understand people, businesses, markets and governments, and therefore better respond to the threats and opportunities that emerge when things change.
Detailed explanation-2: -Economics is the study of scarcity and its implications for the use of resources, production of goods and services, growth of production and welfare over time, and a great variety of other complex issues of vital concern to society.
Detailed explanation-3: -Because our resources are limited, we cannot say yes to everything. To say yes to one thing requires that we say no to another. Whether we like it or not, we must make choices. Our unlimited wants are continually colliding with the limits of our resources, forcing us to pick some activities and to reject others.
Detailed explanation-4: -economics. the study of how individuals and societies choose to allocate scarce resources. scarcity. the fact that there is a limited amount of resources to satisfy unlimited wants.