Which Statement Most Accurately Describes Economics

question 83

Multiple Choice

Which statement most accurately describes 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 social values a society should choose.
• D) Economics is the study of how to eliminate scarcity.

Recognize the limitations of survey research in capturing detailed consumer responses.

Grasp the objectives behind conducting primary research.

Identify appropriate research techniques for acquiring in-depth feedback on new products.

Compare and contrast focus groups and interviews as qualitative research methods.

---

Definitions:

Exogamy

Marriage to someone from a different social group.

Interracial Marriage

A marriage between partners who belong to different racial groups.

Family Values

A set of moral and social norms and beliefs traditionally upheld within a family, emphasizing responsibilities, ethics, and cultural heritage.

Marriage

A formally recognized bond between two spouses, establishing contractual rights and obligations between them.