Question

What do many economists consider to be the most important reason for studying economics?

a. to lower opportunit costs
b. to solve the problem of scarcity
c. to increase the amount of available capital
d. to explain the workings of the stock market

Answer 1

Answer: Option (B) is correct.

Step-by-step explanation:

One of the main reason of studying economics is to use the scarce resources efficiently. It is one of the major problem of an economy to utilize their resources rationally.

One of the main cause of scarcity of natural resources is the growing population. Natural resources are limited but population is growing day by day. This will reduce the availability of natural resources per individual.

Hence, economists use these resources in a manner that will increase the satisfaction level of the consumers.

Answer 2

One of the most important reasons for studying economics as thought by Economists themselves is to increase the amount of available capital.