Which statement describes the term economics?

a.It is the study of using limited resources to fulfill wants and needs.

b.It is the study of how governments fulfill the wants and needs of nations.

c.It is the study of how people spend their money to fulfill wants and needs.

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Related questions

............ is the study of how individuals, families, businesses and societies make choices about ways to use scarce resources to fulfill their wants.

harlequinlouse1

1) A basic underlying point in economics is that A) people have unlimited wants in the face of limited resources. B) there are unlimited resources. C) governments should satisfy the needs of the people D) people have limited wants in the face of limited resources. E) governments should never interfere in the workings of a market economy.

Which of the following elements in a society are required for economic study? Check all that apply.

A) a standardized medium of exchange that is, money.

B) a system of government.

C) decisions about how to allocate resources.

D) people with wants and needs.

E) resources in limited supply.