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Essentials of Economics 7th Edition by Gregory Mankiw
Edition 7ISBN: 978-1285165950Essentials of Economics 7th Edition by Gregory Mankiw
Edition 7ISBN: 978-1285165950 Exercise 2
Economics is best defined as the study of
A) how society manages its scarce resources.
B) how to run a business most profitably.
C) how to predict inflation, unemployment, and stock prices.
D) how the government can stop the harm from unchecked self-interest.
A) how society manages its scarce resources.
B) how to run a business most profitably.
C) how to predict inflation, unemployment, and stock prices.
D) how the government can stop the harm from unchecked self-interest.
Explanation
Verified
Verified
Economics:
Economics refers to the study of how society chose to allocate its scarce resources to produce final goods and services in order to satisfy its unlimited wants. The definition of economics depends upon the linkage between the scarcity and choice.
Hence, option 'a' is correct.
Economics refers to the study of how society chose to allocate its scarce resources to produce final goods and services in order to satisfy its unlimited wants. The definition of economics depends upon the linkage between the scarcity and choice.
Hence, option 'a' is correct.
Essentials of Economics 7th Edition by Gregory Mankiw
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