Which Statement Most Accurately Defines Economics

question 201

Multiple Choice

Which statement most accurately defines economics?

• A)Economics is the study of how people make money.
• B)Economics is the study of how people make choices to satisfy their wants.
• C)Economics is the study of values a society should choose.
• D)Economics is the study of how to eliminate scarcity.

---

Definitions:

Soft Drink Market

Describes the industry and commercial activities related to the production, distribution, and sale of non-alcoholic, carbonated beverages.

Substitutes In Consumption

Refers to goods or services that can replace each other in use, fulfilling similar needs or desires.

Price Of Rice

The cost at which rice is sold, which can vary depending on type, quality, and market conditions.

Bumper Crop

An unusually large harvest of crops, often due to favorable growing conditions.