Which of the Following Statements Provides the Best Definition of Economics

question 87

Multiple Choice

Which of the following statements provides the best definition of economics?

• A)The study of the most equitable distribution of scarce resources.
• B)The study of the use of scarce resources to satisfy unlimited human wants.
• C)The study of the production of goods and services.
• D)The study of the productive capacity of a nation's factors of production.
• E)The study of production and increasing its efficiency.

---

Definitions:

Oedipus Complex

During the phallic stage (ages 4-5), the unconscious desire of a boy for his mother, accompanied by a desire to replace or destroy his father.

Castration Anxiety

A boy’s fear during the Oedipal period that his penis will be cut off.

Anal Conflicts

In psychoanalytic theory, tensions or issues arising during the anal stage of psychosexual development, typically related to toilet training and control.

Individual Psychology

A psychological framework established by Alfred Adler, focusing on the uniqueness of each person and their drive towards personal goals and societal contribution.