Question 1
Basic ConceptsEconomics is the study of how to
- A.choose between alternatives, given limited resources
- B.regulate the money that is in circulation in a country
- C.be prudent in the use of available resources
- D.improve the standard of living of the society at large
- E.arrange our needs in order of usefulness before satisfying them.
Show the answer and explanation
Answer: A (choose between alternatives, given limited resources)
Explanation
Economics studies how people choose among alternative uses of limited resources.