Which of the Following Best Defines Economics

question 63

Multiple Choice

Which of the following best defines economics?

• A)Economics studies how to choose the best alternative when coping with scarcity.
• B)Economics helps you earn as much money as possible.
• C)Economics is concerned with prices and quantities of goods and services, both at the individual level and at the industry level.
• D)Economics teaches how to limit our wants.
• E)Economics analyzes all aspects of human behavior in general.

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Definitions:

Interpersonal

Pertaining to or involving relationships or interactions between people.

Team

A group of individuals working together towards a common goal.

Organizational Methods

Systematic procedures and techniques employed by organizations to manage tasks, projects, and people effectively.

Organization-Wide Changes

Significant alterations or transformations that affect the entire scope of an organization, including its strategies, processes, and structures.