Economics
Which of the following statements most accurately describes the field of economics?
Economics is the study of reducing unlimited wants.
Economics is the study of managing scarce resources.
Economics is the study of creating a limit in demand.
Economics is the study of creating unlimited resources.
Answers
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Answer:
Economics is the study of how society chooses to allocate scarce resources.
Explanation:
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Answer:
Economics is the study of managing scarce resources
Explanation:
The subject matter of economics is concerned with managing scarce resources. Human wants are unlimited, and to get maximum satisfaction these scarce resources need to be used most efficiently.
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