Question

economic is a branch of knowledge that is concerned with the allocation of ____ among competing ends
A. scarce of resources
B. income
C. welfare measures
D. employment
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Answer 1

Answer:

option a is correct: scarce of resource

Answer 2

Option A is the correct answer.

Economics is a branch of knowledge that is concerned with the allocation of scarce resources among competing ends.

1. It is because of scarce resources that consumers have to make choices.
2. Competing ends implies that consumers face choices and resources are dedicated for the most important use of the resources first.
3. Human want are unlimited and resources are scarce. This is the economic problem.