Which of the Following Is the Best Definition of Economics

question 53

Multiple Choice

Which of the following is the best definition of economics?  

• A) It studies human behaviour when scarcity exists and choices must be made. 
• B) It provides the only reasonable explanation of how people make decisions. 
• C) It can accurately explain all human behaviour because it is based on the assumption of rationality. 
• D) It is the only social science that can explain the existence and behaviour of public institutions.

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Definitions:

Local Newspapers

Publications that focus on the news, events, and concerns of a specific city or region, often serving as a primary source of local information.

Walk Ins

Individuals who arrive at a business or event without a prior appointment or reservation, often in the context of retail customers or restaurant patrons.

Business Strategy

A plan designed by an organization to achieve specific goals, outperform competitors, and reach desired financial performance.

Employer Of Choice

An organization recognized for providing an exceptional work environment and benefits, making it highly attractive to potential employees.