An economy system is mainly concerned with
...An economy system is mainly concerned with
Studying the relationship between ends and means
The allocation of scarce resources between alternative ends
Handling situations of abudant resources
The establishment of economic laws
Correct answer is B
An economy system is mainly concerned with the allocation of scarce resources between alternative ends. 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.
Which of the following is not true about land? ...
From the above, calculate the price elasticity of demand ...
A market is in disequilibrium if ...
Positive check as envisaged by Thomas Malthus can be prevented if ...
One of the characteristics of private enterprises is ______? ...
An increase in the supply of labour in a factory while other things remain equal will lead to ...
The age distribution of a country's population is of economic importance because it affects the ...
The concept of marginal utility indicates the relationship between utility and _________? ...
Macroeconomics focuses on the following units in an aggregative manner ...