Final answer:
The primary concern of economics is to utilize limited resources efficiently to meet economic wants. Economics also considers a wide range of factors that affect societal well-being, including income distribution and environmental effects.
Step-by-step explanation:
The most important concern of economics is with the efficient use of limited productive resources to satisfy economic wants, which is option (c). This involves addressing the fundamental problem of scarcity, where human wants exceed the available supply of goods and services. The focus of economics is on how to allocate these scarce resources to produce the most goods and services possible and distribute them in a way that maximizes well-being.
Economics acknowledges the well-being of all people, taking into account the impact on those with various income levels and employment statuses. Additionally, it recognizes issues like environmental pollution, the benefits of investing in education, and the effects of government policies on production and consumption. By understanding economics, we become better prepared to make informed decisions as citizens and to contribute effectively to society.