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19 February, 12:09

Economics is the study of how people try to satisfy unlimited wants and needs with limited resources. Question 20 options:TrueFalse

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  1. 19 February, 12:18
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    True

    Explanation:

    According to the American Economics Association, economics is the study of limited resources or scarcity. Many economists say people have unlimited wants and needs because it is an assumption that human beings are never satisfied at all. But this is an important and valid assumption because in many situations, more is better.

    Also economics is the study of how people make choices and which incentivates people to make them.
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