To find the correct option that satisfies the sentence.
Answer to Problem 7AA
Studying how people use limited resources to fulfill their unlimited wants is the focus of economics.
Explanation of Solution
Economics is the study of human behavior which focuses on the judicious use of scarce resources to fulfill the unlimited wants of the people.
The main focus of studying economics is analyzing the wants of consumers which are unlimited. This brings the theories of utilization of resources provided by the nature.
Hence, studying how people use limited resources to fulfill their unlimited wants is the focus of economics.
Chapter 1 Solutions
Economics Today and Tomorrow, Student Edition
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Financial Accounting, Student Value Edition (5th Edition)
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