Question

The study of economics is primarily concerned with

Option 1: keeping private businesses from losing money.
Option 2: demonstrating that capitalistic economies are superior to socialistic economies.
Option 3: determining the most equitable distribution of society's output.
Option 4: choices that are made in seeking the best use of limited resources.

Answer 1

Economics is concerned with the well-being of all people and tackles topics like investing in education, big businesses' effects on society, and government's influence on decision-making.

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. Economics acknowledges that production of useful goods and services can create problems of environmental pollution. It explores the question of how investing in education helps to develop workers' skills. It probes questions like how to tell when big businesses or big labor unions are operating in a way that benefits society as a whole and when they are operating in a way that benefits their owners or members at the expense of others. It looks at how government spending, taxes, and regulations affect decisions about production and consumption.