30.4k views
5 votes
What is the knowledge of Economics concerned with?

What is the knowledge of Economics concerned with?
a) Consumption
b) Transfer of wealth
c) Production
d) All of the above

1 Answer

2 votes

Final answer:

Economics is concerned with the well-being of all people and explores questions related to consumption, production, and the transfer of wealth.

Step-by-step explanation:

Economics is concerned with the well-being of all people, including those with jobs and those without jobs, as well as those with high incomes and those with low incomes. It explores questions related to consumption, production, and the transfer of wealth. These encompass a range of topics such as the effects of government spending, taxation, regulations, and how to determine when big businesses or labor unions benefit society or their owners at the expense of others.

User Wake
by
8.3k points