Question

Economics is making choices in the presence of _______.

A emotions Correct Answer Incorrect Answer
B scarcity Correct Answer Incorrect Answer
C quality Correct Answer Incorrect Answer
D abundance Correct Answer Incorrect Answer

Solution

Economics is about making choice in presence of scarcity because of the fact that our wants are unlimited and the resources to fulfil them are limited. so we have to make choice between the scarce resources, therefore we can say that the economics is about making choice in scarcity

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