Economics 101

The study of how to save money

The study of how to make money

The study of how individuals and societies allocate limited resources to satisfy their unlimited wants and needs (correct)

The study of how to spend money

Microeconomics focuses on individual economic agents and their interactions, while macroeconomics focuses on the economy as a whole (correct)

Microeconomics and macroeconomics are the same thing

Microeconomics focuses on the macroeconomic factors that affect the economy, while macroeconomics focuses on the microeconomic factors that affect individual economic agents

Microeconomics and macroeconomics are completely unrelated fields of study

The creation of unlimited resources

The allocation of scarce resources (correct)

The consumption of scarce resources

The distribution of unlimited resources