Which of the Following Is a Characteristic or Focus of Economics

question 199

Multiple Choice

Which of the following is a characteristic or focus of economics?

• A)allocation of limited resources in an effort to satisfy potentially unlimited wants
• B)decision making
• C)empirical analysis
• D)all of the above

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Definitions:

Special Account

A unique account that is established for a specific purpose, often outside the regular operations or financial structure.

Retained Earnings

The portion of a company's profits that is kept or retained for reinvestment in the business, rather than being paid out as dividends.

Store Supplies

Items consumed in the daily operations of a retail business, not intended for sale to customers.

Adjustments Column

A column in accounting ledgers or spreadsheets used for recording adjustments to initial entries for correct financial representation.