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Questions and Answers
What is the main focus of economics as an applied science?
What is the main focus of economics as an applied science?
- The study of scarce resources
- The study of human behavior
- The study of economics in relation to real world situations (correct)
- The study of society
Which of the following is NOT a characteristic of economics as a social science?
Which of the following is NOT a characteristic of economics as a social science?
- It involves the use of scarce resources
- It studies human behavior
- It studies how individuals make choices
- It is a physical science (correct)
Why is man's ability to buy goods and services limited?
Why is man's ability to buy goods and services limited?
- Due to the scarcity of resources
- Due to his unlimited wants
- Due to his income and purchasing power (correct)
- Due to his behavior
Which of the following is NOT a social science?
Which of the following is NOT a social science?
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What does economics study in relation to human behavior?
What does economics study in relation to human behavior?
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Which of the following best describes economics as a study?
Which of the following best describes economics as a study?
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What limits man's ability to buy goods and services?
What limits man's ability to buy goods and services?
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In what context does man have to practice economics?
In what context does man have to practice economics?
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