Questions: The study of economics is concerned with individuals and groups making choices

The study of economics is concerned with individuals and groups making choices
Transcript text: The study of economics is concerned with individuals and groups making choices
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Solution

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The answer is the fourth one: choices.

Explanation for each option:

  • Hasty decisions: Economics is not specifically concerned with hasty decisions. It studies decision-making processes, but not necessarily those made hastily.
  • Money: While money is a significant aspect of economics, the field is broader and encompasses more than just monetary aspects.
  • Laws: Economics may consider laws as part of the institutional framework, but it is not primarily concerned with making laws.
  • Choices: Economics is fundamentally about how individuals and groups make choices regarding the allocation of scarce resources.

In summary, the study of economics is primarily concerned with choices.

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