Question 1
Which of the following statements is correct?
◦ Economics is a natural science.
◦ In large measure, economics is the study of how people make choices.
◦ If poverty was eliminated there would be no reason to study economics.
◦ Economic analysis can be used to explain how societies, but not individuals, make decisions.
Question 2
Economics is the study of
◦ how to invest in the stock market.
◦ how society uses limited resources.
◦ the role of money in markets.
◦ how government officials decide which goods and services are produced.