Question : Economics is all about making choices in the presence of ________.
Option 1: Scarcity
Option 2: Unlimited resources
Option 3: Limited resources
Option 4: All of the above
Correct Answer: Scarcity
Solution : Making decisions in the face of scarcity is the essence of economics. It investigates how human desires and available resources affect behaviour. Hence, the correct option is 1.
Question : Scarcity and ______ go together.
Question : The study of how individuals allocate their limited resources to satisfy unlimited wants is known as:
Question : Economic problem is a problem of ________.
Question : Economizing of resources means __________
Question : Basic problem of the economy is
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