Answer:
The correct answer is The study of how limited resources are allocated to satisfy unlimited wants.
Explanation:
Economics is a social science that studies how to manage the resources available to meet human needs. In addition, it also studies the behavior and actions of human beings.
Since the resources of the planet are scarce and unfortunately, not all of us can dispose of everything, we are forced to manage those goods to get what we need. Economic science involves the decision making of individuals, organizations and states to allocate these scarce resources.
The economy also focuses on the behavior of individuals, their interaction with certain events and the effect they produce on their environment. For example, the effect they produce on prices, production, wealth or consumption, among others. It is a social science because it studies human activity and behavior, which is a highly dynamic object of study. Humans are unpredictable.
