Which of the Following Is the Most Accurate Definition of Economics

question 35

Multiple Choice

Which of the following is the most accurate definition of economics?

• A)the study of how humans use potentially scarce resources to meet demand
• B)the study of tax laws,banking,and monetary policy
• C)the study of environmental systems and their monetary value
• D)the study of conversion of monetary units between nations
• E)the study of making money,goods,and services

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Definitions:

Politicians

Individuals who are involved in governing or making policy in government institutions, often elected by constituents to represent their interests.

Scientists

Individuals engaged in a systematic activity to acquire knowledge that describes and predicts the natural world, often through empirical methods.

Capitalists

Individuals or entities that own capital, particularly in the form of investments and businesses, aiming to generate profits.

Means-ends Calculation

A process of decision-making that involves analyzing the best way to achieve a desired outcome.