Question

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

scarcity
opportunity cost
capital
economics

Explanation:

The question defines the study of resource allocation for unlimited wants, which is the core definition of economics. Scarcity is the condition that necessitates this study, opportunity cost is a related concept, and capital is a resource type—none match the definition of the field itself.

Answer:

economics