ECONOMICS CAN BEST BE DESCRIBED AS THE STUDY OF

1. Economics can best be described as the study of:how to increase the level of productive resources so there is maximum output in society.how to use productive resources to maximize income level.→ how people, institutions, and society make choices under conditions of scarcity.how business structures influence the allocation of income among firms. AACSB: AnalyticBlooms: RememberDifficulty: 1 EasyLearning Objective: 01-01 Define economics and the features of the economic perspective.Topic: Economic perspectivesMultiple Choice Question Topic: Economics