The main concern of economists is to________
...The main concern of economists is to________
Control the growth of population
Redistribute income between the rich and poor
Satisfy all human wants
Allocate scarce resources to satisfy human wants
Correct answer is D
Economics seeks to study the relationship between ends and means. Ends are unlimited while the means are limited. Scarcity means resources are limited in relation to the ends. Economics therefore seek is concerned with allocating limited resources among the competing and unlimited wants.
The reduction in the value of a country’s currency in relation to the value of the currencies ...
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A rational consumer will purchase a product whose price is? ...
The main advantage of large scale production is that ...
Resources are pooled for the mutual benefit of its members mainly in a ...
An economy system is mainly concerned with ...