Question

question 9
1 pts
economics is best defined as the study of:
how society manages its scarce resources
hot to run a business most profitably
how to predict inflation, unemployment, and stock prices
how the government can stop the harm from unchecked self-interest

Explanation:

Analyze the core definition of economics

Economics is fundamentally the study of how society allocates and manages its scarce resources to satisfy unlimited wants.

Evaluate the given options

• Option 1 directly aligns with the core definition of economics focusing on scarcity and resource management.
• Option 2 describes business management or corporate finance rather than economics as a whole.
• Option 3 describes specific subfields of macroeconomics and finance, not the broad definition.
• Option 4 describes a specific normative policy goal or political economy perspective, not the general definition.

Answer:

• How society manages its scarce resources (Correct answer)
• Hot to run a business most profitably
• How to predict inflation, unemployment, and stock prices
• How the government can stop the harm from unchecked self-interest