Economics Principles Quiz

• The study of allocation of scarce resources (correct)
• The science of home management
• The study of how individuals satisfy unlimited wants with limited resources
• The social science concerned with satisfying human wants

• The circular movement of resources and production in an economy
• The flow of income between households and firms (correct)
• The circular movement of goods and services in an economy
• The flow of money in and out of an economy

• The allocation of resources in an economy
• The maximum production attainable with current resources and technology
• The trade-offs between two goods that an economy can produce (correct)
• The level of production at full employment

<p>To comprehend the impact of government policies on the economy (D)</p> Signup and view all the answers

<p>The imbalance between unlimited wants and limited resources (B)</p> Signup and view all the answers