The Primary Objective of Economics Is

question 82

Multiple Choice

The primary objective of economics is

• A) to learn how to create more resources.
• B) to study how people make choices with limited resources.
• C) to learn how to make the most profits with a given amount of resources.
• D) to study why some people are never happy with the resources they have.

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Definitions:

Alimony Deduction

A tax deduction that allows individuals to subtract alimony payments made to a former spouse from their taxable income.

Cash Payments

Financial transactions involving the transfer of currency or check from buyer to seller without the use of credit.

Dependent Child

A child who meets certain IRS criteria allowing a taxpayer to claim them for tax benefits.

Self-Employment Tax

A financial obligation made up of Social Security and Medicare fees, chiefly for people who are in self-employment.