Question

The basic concern of economics is:

A. to keep business firms from losing money.
B. to prove that capitalism is better than socialism.
C. to study the choices people make.
D. to use unlimited resources to produce goods and services to satisfy limited wants.
E. to increase the amount of wealth in the economy.

Answer 1

Answer:

C. Study the choices people make

Explanation:

Economics is the study of choices people make to satisfy unlimited wants from limited resources having alternative uses.

A, B, E are inapt because - Economics is not only about businesses but also about consumers & other economic agents, Capitalism & Socialism are two types of Economies, Wealth Accumulation is a primitive & narrow definition of Economics.

D. is inapt because - Wants are unlimited & resources limited (opposed to vice versa given).