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Economic Context

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Knowledge Check

  • Economics is the study of:

    A
    How society manages its unlimited resources
    B
    How to reduce our wants until we are satisfied
    C
    How society manages its scarce resources
    D
    How to fully satisfy our limited wants

  • Economics studies of

    A
    economic activities
    B
    wealth
    C
    man
    D
    essentials

  • economic problem, in the context of a country, is using resource.

    A
    (a) Fully
    B
    (b) Efficiently
    C
    (c) Both fully and efficiently
    D
    (d) None of the above

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