Economics may be defined as ________

  • A The study of human behaviour in the allocation of scarce resources
  • B The study of money and banking
  • C The study of markets and prices
  • D The study of production and distribution
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The correct answer is A. The study of human behaviour in the allocation of scarce resources

Economics is a social science that focuses on how people make choices to allocate resources for production, distribution, and consumption, both individually and collectively,

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