Question 33
Basic ConceptsEconomics is called a social science because it is
- A.a branch of the social studies
- B.a study of the ways man devises to satisfy his unlimited wants from limited resources
- C.a dismal science in the Malthusian sense
- D.governed by scientific laws
- E.the study of human wants by means of scientific methods of observation.
Show the answer and explanation
Answer: B (a study of the ways man devises to satisfy his unlimited wants from limited resources)
Explanation
Economics studies human behaviour in society, how people use scarce resources to satisfy unlimited wants.