Question

Economics is primarily the study of__________.

A. to make money in the stock market.
B. how to find lower cost methods of production.
C. the choices we must make among alternatives because of scarcity.
D. the proper form of industrial structure for the United States.

Answer 1

Answer:

Option (c) is correct.

Explanation:

Economics is the study of the choices that we have to make from the limited available resources. We know that the human wants are unlimited and the resources to satisfy these wants are limited. So, we have to use these scarce resources in a manner which gives the maximum utility from the resources. The scarce resources have to be rationally managed.