Home
/
Business
/
1. Which term is used to describe the study of how people make decisions in a world where resources are limited? a. scarcity b. decision-making modeling c. economics d. cost-benefit analysis

Question

1. Which term is used to describe the study of how people make decisions in a world where
resources are limited?
a. scarcity
b. decision-making modeling
c. economics
d. cost-benefit analysis

1. Which term is used to describe the study of how people make decisions in a world where resources are limited? a. scarcity b. decision-making modeling c. economics d. cost-benefit analysis

expert verifiedVerification of experts

Answer

3.3343 Voting
avatar
LandonElite · Tutor for 8 years

Answer

c. economics

Explain

The study of how people make decisions in a world where resources are limited is a central focus of economics. Economics examines the allocation of scarce resources to maximize utility, efficiency, and wealth. It encompasses how individuals, businesses, and governments make choices that affect the production, distribution, and consumption of goods and services.
Click to rate:

Hot Questions

More x