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18 October, 04:16

By definition, economics is the study of a. how to make money in the stock market. b. the choices people make to attain their goals, given their scarce resources. c. how to make money in a market economy. d. supply and demand.

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  1. 18 October, 04:18
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    b. the choices people make to attain their goals, given their scarce resources.

    Explanation:

    Economics is a social study concerned with how society distributes its scarce resources to meet the different needs of its members. Human beings have unlimited wants that society tries to meet with limited resources. Economists involve the study on how society allocates its limited resources to meet the demands of its members.

    Economists study how individuals, firms, and the country makes decisions on how to get maximum benefits from the available scarce resources. Macroeconomics, as a branch of economics, studies the decisions of the whole country. Microeconomics is concerned with how firms and individuals make use of limited resources to meet their unlimited needs.
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