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(01.02 MC)

Economics is defined as a study of the (5 points)
a
properties of money
Ob
ways people obtain their wants with limited resources
Ос
ways businesses and government operates
Od
best ways to increase the profits of a company

User Keerz
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2 Answers

4 votes

Answer:

b: ways people obtain their wants with limited resources

Step-by-step explanation:

User MpSchrader
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7 votes

Answer:Ob

---ways people obtain their wants with limited resources

Explanation:

Economics as defined by Lionel Robbins is the science that studies human behavior as a relationship between ends and scarce means which have alternative uses.

The economy generally is filled with people having unlimited wants but the resources( land, labour, capital and enterpreneur) to satisfying these wants are Limited and scarce . Economics studies how the society (government and businesses)use these scarce resources to satisfy or meet its unlimited wants by providing variety of goods and services from the scarce resources so that people can have choices to choose from in satisfying their limitless wants in order of preferences.

User Jahred
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