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How does the study of economics depend upon the phenomenon of scarcity?
Economics is the study of how society manages its scarce resources therefore, the study of economics is only important because of the scarcity of resources. Higenyi
What is the study of the allocation of resources?
ECONOMICS is the study of the allocation of SCARCE resources.
Definition of economics by William nordhaus?
William NOrdhaus defined economics as the study of how individual and society choose to use scarce resources.
How is economics often described?
Economics is often described as a body of knowledge or study that discusses how a society tries to solve the human problems of unlimited wants and scarce resources.
What does the study of economics focus on?
what scarce resources are used to produce goods and services.
Is the study of how society manages its scarce resources?
Economics
How does the study of economics depend upon the phenomenon of scarcity?
Economics is the study of how society manages its scarce resources therefore, the study of economics is only important because of the scarcity of resources. Higenyi
What is the study of the allocation of resources?
ECONOMICS is the study of the allocation of SCARCE resources.
Definition of economics by William nordhaus?
William NOrdhaus defined economics as the study of how individual and society choose to use scarce resources.
How is economics often described?
Economics is often described as a body of knowledge or study that discusses how a society tries to solve the human problems of unlimited wants and scarce resources.
What does the study of economics focus on?
what scarce resources are used to produce goods and services.
Which activity does economics primarily study?
The problem of scarce resources relative to human wants
The study of how individuals and governments allocate scarce resources in an attempt to satisfy unlimited wants is?
Economics
Which social science is The study of the conservation of scarce resources while producing goods for people to consume?
economic
How can studying economics help us make better choices about how to use scarce resources?
The study of economics is essentially the study of how to intelligently distribute limited resources in order to best satisfy unlimited wants.
Which statement would best complete a short definition of economics ''Economics is the study of .........''?
The efficient use of scarce productive resources.
What is the definition of economics by roger leroy miller?
· The study of how the individuals and societies make choices about ways to use scarce resources.
