Which One of the Following Is the Most Accurate Definition

question 50

Multiple Choice

Which one of the following is the most accurate definition of economics?

• A) Economics is the study of stocks and bonds.
• B) Economics is the study of how people allocate unlimited resources.
• C) Economics is the study of how consumers choose to spend their unlimited income.
• D) Economics is the study of how an individual agent/entity chooses to allocate scarce
• Resources.

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Definitions:

Job Descriptions

Documents that outline the duties, responsibilities, required qualifications, and reporting relationships of a specific job within an organization.

Job Specifications

Defined as the precise requirements and qualifications needed to perform a specific job, including duties, responsibilities, skills, and qualifications.

Job Analysis

The process of studying and collecting information about the duties, responsibilities, necessary skills, outcomes, and work environment of a particular job.

Strategic Approach

A planned method of action designed to achieve long-term goals or overall objectives.