Question

1. the study of how people, firms, and governments make decisions about how to allocate scare resources to meet unlimited wants is known as

opportunity cost
economics
scarcity
capital

Explanation:

Economics is the study of how individuals, firms, and governments allocate scarce resources to satisfy unlimited wants. Opportunity cost refers to the value of the next - best alternative forgone. Scarcity is the fundamental economic problem of having seemingly unlimited human wants in a world of limited resources. Capital is one of the factors of production (e.g., machinery, buildings).

Answer:

B. economics