Question

Economics is
a)Study of stock & bond market
b)Mainly study of Business firms
c)Problem of choice under scarcity
d)Study of management decisions​

Answer 1

Answer:

Economics is the social science that studies the production, distribution, and consumption of goods and services. Economics focuses on the behaviour and interactions of economic agents and how economies work

Answer 2

The correct answer is OPTION C: Problem of choice under scarcity.

• The study of how people make decisions in times of scarcity is known as economics.
• Individuals, families, businesses, and even communities make decisions.
• Product, service, and resource demands outweigh what is available.
• Labor, tools, land, and raw materials are all required to produce the goods and services that we desire, yet they are in short supply. We can only produce a certain amount of products and services with these resources since they are finite.
• When human goals appear to be boundless, it's easy to see how scarcity becomes an issue.