11) Economics the study of A) nonhuman phenomena. B) the determinants of

Question : 11) Economics the study of A) nonhuman phenomena. B) the determinants of : 1912915

11) Economics is the study of

A) nonhuman phenomena.

B) the determinants of preferences.

C) scarce resources and unlimited wants.

D) the physical sciences.

12) Economics deals with

A) how to profit from the stock market.

B) how to satisfy limited human wants.

C) how society allocates unlimited resources.

D) how individuals allocate scarce resources to satisfy unlimited human wants.

13) Economics is the study of

A) how to own as many resources as possible.

B) ceteris paribus.

C) the way people think rather than the way they act.

D) how people allocate their limited resources to satisfy their unlimited wants.

14)  Economic resources are

A) all the items that people would purchase if they had limited wants.

B) all the unlimited items that people would purchase with limited income.

C) items of value that are used to make other things that satisfy people's wants.

D) the total planned expenditures throughout the nation.

15) Economics is concerned with choices

A) that involve the wants of individuals.

B) that involve the political goals of professional associations.

C) made by individuals only when they are consuming goods or services.

D) that involve making money.

16) Economics is a social science that involves the study of how individuals

A) develop their tastes and preferences.

B) maximize their wealth.

C) define happiness.

D) choose among alternatives to satisfy their unlimited wants.

17) Economics is a part of the

A) social sciences.

B) natural sciences.

C) biological sciences.

D) organizational sciences.

18) Wants are

A) another term for needs.

B) the things people would consume if they had unlimited incomes.

C) the things people consume with their income.

D) all the things people really need in order to live comfortably.

19) The primary purpose of economics is to understand how people make

A) money.

B) goods and services.

C) choices.

D) a comfortable living.

20) The primary objective of economics is 

A) to learn how to create more resources.

B) to study how people make choices with limited resources.

C) to learn how to make the most profits with a given amount of resources.

D) to study why some people are never happy with the resources they have.

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