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Economics is the study ofa. how to predict inflation, unemployment, and stock prices b. how to run a business most profitably c. how the government can stop the harm from unchecked self-interest d. how society manages its scarce resources

Respuesta :

eooyibo123

Answer:

how society manages its scarce resources.

Explanation:

Economics is defines as a social science that focuses on the production, distribution, and consumption of goods and services within an economy.

It uses economic models that try to simplify economic processes so that the effect of various variables can be studied.

The main aim of economics is how society manages its scarce resources considering that there are competing wants of the consumer.

For example a consumer has $50 and can buy a burger or a t shirt, economics helps determine the best course of action to use the scarce resource to maximise satisfaction.

jepessoa

Answer:

D) how society manages its scarce resources

Explanation:

All resources are scarce.

For example, even the richest person in the world or the richest corporation, only have a certain amount of money. Everyone is limited by time, since no matter how rich you are, you cannot add additional hours to a day, or additional months to a year. Food, materials, everything you can think of is limited, even the air we breath.

Economics deal with how individuals and companies decide how to allocate resources in order to maximize their benefits. Always the demand will exceed the supply, and decisions must be made based on benefits v. costs. This is where the concept of opportunity costs becomes important.

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