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
Additional Business Textbook Solutions
Principles of Accounting Volume 2
Managerial Accounting (5th Edition)
Cost Accounting (15th Edition)
Principles of Accounting Volume 1
Financial Accounting (12th Edition) (What's New in Accounting)
Principles of Management
- Principles of Economics (12th Edition)EconomicsISBN:9780134078779Author:Karl E. Case, Ray C. Fair, Sharon E. OsterPublisher:PEARSONEngineering Economy (17th Edition)EconomicsISBN:9780134870069Author:William G. Sullivan, Elin M. Wicks, C. Patrick KoellingPublisher:PEARSON
- Principles of Economics (MindTap Course List)EconomicsISBN:9781305585126Author:N. Gregory MankiwPublisher:Cengage LearningManagerial Economics: A Problem Solving ApproachEconomicsISBN:9781337106665Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike ShorPublisher:Cengage LearningManagerial Economics & Business Strategy (Mcgraw-...EconomicsISBN:9781259290619Author:Michael Baye, Jeff PrincePublisher:McGraw-Hill Education