Question

1. economics is the study of

the study of the financial system of a society.
how people, firms, and governments make decisions about how to allocate scarce resources to meet unlimited wants.
how goods are produced
money.

Explanation:

Economics focuses on resource allocation due to scarcity relative to unlimited wants, involving decisions by individuals, firms, and governments. Other options are too narrow (financial system, production, money) and do not capture the core definition.

Answer:

how people, firms, and governments make decisions about how to allocate scarce resources to meet unlimited wants.