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Master the Basics of Economics
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Master the Basics of Economics

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@GlowingZircon

Questions and Answers

Which word does the term 'economy' come from?

  • Greek
  • Household
  • Oikonomias (correct)
  • Manage

    • What is the main focus of economics?

  • Optimizing satisfaction
  • Making social choices
  • Studying human behavior
  • Efficient use of resources (correct)

    • What does economics study under conditions of scarcity?

  • Social choices
  • Use of scarce resources (correct)
  • Satisfaction levels
  • Human behavior

    • What are some decisions faced by households and economies?

    <p>All of the above</p> Signup and view all the answers

    What is the alternative use of scarce resources in economics?

    <p>Achieving maximum efficiency</p> Signup and view all the answers

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