Multiple Choice
Economics is best described as the
A) study of choice when scarcity exists
B) study of the production of goods and services
C) theory of consumer behavior
D) science of money
E) art of spending money wisely
Correct Answer:
Verified
Correct Answer:
Verified
Q79: Most economists consider a theory a good
Q80: The existence of scarcity as defined by
Q81: A market<br>A)is often a physical place<br>B)facilitates exchanges
Q82: Economists believe that individuals respond in a
Q83: Profit is the payment received by resource
Q85: In economics, "capital" refers to<br>A)money<br>B)stocks, bonds, and
Q86: One might commit the fallacy of composition
Q87: Economic theories are<br>A)useful because they are as
Q88: "There should be less discrimination against women"
Q89: A fallacy of composition is to assume