Which One of the Following Is the Most Accurate Definition

question 214

Multiple Choice

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

• A) Economics is the study of stocks and bonds.
• B) Economics is the study of how people allocate unlimited resources.
• C) Economics is the study of how consumers choose to spend their income.
• D) Economics is the study of how society chooses to allocate scarce resources.

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Definitions:

Advisor

An individual providing guidance and advice, often in educational, professional, or financial contexts.

Feedback

Information provided as a response to an action or behavior, intended to guide future improvements or adjustments.

Low Role Ambiguity

A situation in which job roles and responsibilities are clearly defined, leading to less confusion and higher productivity among employees.

Accountability

The obligation to explain, justify, and take responsibility for one's actions, ensuring transparency and trustworthiness.