Author Question: Which one of the following is the most accurate definition of economics? a. Economics is the study ... (Read 118 times)

nramada

  • Hero Member
  • *****
  • Posts: 580
Which one of the following is the most accurate definition of economics?
 a. Economics is the study of stocks and bonds.
  b. Economics is the study of how people allocate unlimited resources.
  c. Economics is the study of how consumers choose to spend their income.
  d. Economics is the study of how society chooses to allocate scarce resources.

Question 2

Economics is the study of how people:
 a. vote for political leaders who decide what is to be produced.
  b. make choices to produce and consume goods and services.
  c. establish social institutions that maximize well-being.
  d. develop value systems that affect their consumption choices.



harveenkau8139

  • Sr. Member
  • ****
  • Posts: 304
Answer to Question 1

d

Answer to Question 2

b



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question


 

Did you know?

Allergies play a major part in the health of children. The most prevalent childhood allergies are milk, egg, soy, wheat, peanuts, tree nuts, and seafood.

Did you know?

The shortest mature adult human of whom there is independent evidence was Gul Mohammed in India. In 1990, he was measured in New Delhi and stood 22.5 inches tall.

Did you know?

The top 10 most important tips that will help you grow old gracefully include (1) quit smoking, (2) keep your weight down, (3) take supplements, (4) skip a meal each day or fast 1 day per week, (5) get a pet, (6) get medical help for chronic pain, (7) walk regularly, (8) reduce arguments, (9) put live plants in your living space, and (10) do some weight training.

Did you know?

Russia has the highest death rate from cardiovascular disease followed by the Ukraine, Romania, Hungary, and Poland.

Did you know?

Chronic marijuana use can damage the white blood cells and reduce the immune system's ability to respond to disease by as much as 40%. Without a strong immune system, the body is vulnerable to all kinds of degenerative and infectious diseases.

For a complete list of videos, visit our video library