Podcast
Questions and Answers
Which term comes from the Greek words 'OIKOS' and 'NOMOS' and refers to the study of how people live by producing, distributing, and consuming scarce goods and services?
Which term comes from the Greek words 'OIKOS' and 'NOMOS' and refers to the study of how people live by producing, distributing, and consuming scarce goods and services?
What is the main problem that arises due to the limited resources available to produce goods and services compared to the limitless human wants?
What is the main problem that arises due to the limited resources available to produce goods and services compared to the limitless human wants?
What are the rules of a household called in economics?
What are the rules of a household called in economics?
What is the study of how people live by producing, distributing, and consuming scarce goods and services called?
What is the study of how people live by producing, distributing, and consuming scarce goods and services called?
Signup and view all the answers
What is the term used to describe the condition where the resources available to produce goods and services are limited compared to the unlimited human wants?
What is the term used to describe the condition where the resources available to produce goods and services are limited compared to the unlimited human wants?
Signup and view all the answers
