The study of economics is mainly concerned with how to
Rank individuals' wants given the abundant resources
Make choice when resources are inadequate
Satisfy every member of all societies
Produce all the goods needed by everyone
Correct answer is B
The study of economics is mainly concerned with how to make choices when resources are inadequate. This is because resources are always scarce, meaning that there is never enough to satisfy all of our wants and needs. As a result, we have to make choices about how to allocate our resources in a way that maximizes our well-being.
The other options listed are not the main focus of economics. While economics can be used to rank individuals' wants, satisfy every member of all societies, and produce all the goods needed by everyone, these are not the primary goals of the discipline. Economics is more concerned with understanding how these things are achieved in the real world, and how we can make better decisions about how to allocate our resources.
