Economics Is BEST Defined as the Study of How

question 243

Multiple Choice

Economics is BEST defined as the study of how

• A) to classify resources used to produce final goods and services.
• B) resources are apportioned to satisfy human wants.
• C) people make rational decisions.
• D) technology can be used to change scarce resources into free resources.

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Definitions:

Education

A process of facilitating learning, acquiring knowledge, skills, values, beliefs, and habits through various methods such as teaching, training, storytelling, discussion, and directed research.

Bowles And Gintis

Economists and scholars known for their work on the relationship between education and the economy, particularly the "correspondence principle" which suggests that the structure and values of the educational system reflect those of the labor market.

Conflict Theory

A sociological perspective that views social life as a competition, highlighting the struggles between groups for limited resources.

Capitalist Aims

Capitalist aims involve maximizing profit and capital accumulation within a market economy, typically emphasizing private ownership, competition, and limited government intervention in economic activities.