Management Notes

Reference Notes for Management

Economics is best defined as the study of 

Economics is best defined as the study of 

Economics is best defined as the study of 

  1. how people, businesses, governments, and societies choose abundance over scarcity.
  2. how people, businesses, governments, and societies make choices to cope with scarcity.
  3. how people, businesses, governments, and societies use their infinite resources.

The Correct Answer is

B. how people, businesses, governments, and societies make choices to cope with scarcity.

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