Question

economics is best defined as the study of how group of answer choices a. resources are allocated to satisfy human wants. b. modern businesses have grown and prospered. c. to classify resources used to produce final goods and services. d. pure capitalism has become the best system for satisfying basic human wants. e. technology can be used to change scarce resources into free resources.

Answer 1

Economics is best defined as the study of how resources are allocated to satisfy human wants.

Thus, the correct option is A.

Economics: What Is It?

The function of economies, as well as the actions and interactions of economic agents, are the subjects of economics.

Microeconomics studies what are regarded as the core elements of the economy, including individual agents, markets, and the interactions that lead to relationships.

Homes, businesses, buyers, and sellers are a few examples of individual agents.

Macroeconomics studies the economy as a system in which production, consumption, saving, and investment coexist. It also looks at the factors that affect it, such as the employment of labour, capital, and land resources, currency inflation, economic growth, and public policies that have an impact on these elements.

Learn more about Economics, here

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