According to the text, economics is the study of how: a) governments allocate resources in the face of constraints. b) government policies can be used to meet individuals' wants and desires. c) human beings coordinate their wants and desires. d) scarce resources are allocated between capitalists and workers.

Question

Social Studies

Elliott Stone

12 January, 23:02

According to the text, economics is the study of how: a) governments allocate resources in the face of constraints. b) government policies can be used to meet individuals' wants and desires. c) human beings coordinate their wants and desires. d) scarce resources are allocated between capitalists and workers.

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Answers (1)

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Hayley Banks · Answer 1

c) human beings coordinate their wants and desires.

Explanation:

Economics is the investigation of the human needs and their desires and the interference of social, political and economic factors in the decisions leading to the fulfillment of those needs and desires. Economics sheds light on the importance and effect of social situations and political realities of a society and that how it interacts with the decision making process and strategies utilized by the people living in that society. Hence, economics is the investigation of human beings coordinating and fulfilling their wants and desires under social and political influences.