Multiple choice

What is economics?

  1. The study of money

  2. The study of owning a business

  3. The study of using resources for wants

  4. The study of trade
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Economics is the social science that studies how individuals, businesses, and governments make choices to allocate scarce resources to satisfy unlimited wants. While money, business, and trade are parts of economics, the core definition centers on resource allocation under scarcity.

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