Question

23. The subject matter of economics
is *
A. To ensure economic progress of
the people
O B. to run business
O
C. to satisfy unlimited wants with
limited means
O
D. to mobilise resources and to use
them​

Answer 1

Answer:

The subject matter of economics is concerned with wants, efforts and satisfaction. In other words, it deals with decisions regarding the commodities and services to be produced in the economy, how to produce them most economically and how to provide for the growth of the economy.

Answer 2

Answer:

To satisfy unlimited wants with limited means.

Explanation:

• Economics is a field that studies wants, efforts, and satisfaction. In other words, it deals with choices about what goods and services should be produced in the economy, how to do so efficiently, and how to support economic growth.
• This allows for a new division of the subject matter of economics into two parts: price in microeconomics and income and employment theory in macroeconomics. These two ideas are crucial for understanding how economic activity works.
• The subject of economics has a vast reach that includes not just its subject matter but also a number of other aspects, such as its scientific nature, its capacity for making moral judgements, and its capacity for formulating solutions to real-world issues.

Thus this is the answer.

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