MC5. What is economics?
A. The study of how society manages its scarce resources.
B. The study of how people make choices under conditions of scarcity.
C. The study of how markets work and how they can be made more efficient.
D. The study of how to maximize profits.
Answer:B
MC5. What is economics?
A. The study of how society manages its scarce resources. B. The study of how people make choices under conditions of scarcity. C. The study of how markets work and how they can be made more efficient. D. The study of how to maximize profits.