Question : Economics is all about making choices in the presence of ________.
Option 1: Scarcity
Option 2: Unlimited resources
Option 3: Limited resources
Option 4: All of the above

Question

Question : Economics is all about making choices in the presence of ________.

Option 1: Scarcity

Option 2: Unlimited resources

Option 3: Limited resources

Option 4: All of the above

Team Careers360 · Accepted Answer

Correct Answer: Scarcity

Solution : Making decisions in the face of scarcity is the essence of economics. It investigates how human desires and available resources affect behaviour. Hence, the correct option is 1.

Exams

Colleges

Predictors

Resources

Quick links

B.Tech CompanionUse Now Your one-stop Counselling package for JEE Main, JEE Advanced and BITSAT

Exams

Colleges & Courses

Predictors

Resources

Exams

Colleges

Predictors & E-Books

Resources

Engineering Preparation

Medical Preparation

Online Courses

Products

Exams

Colleges

Resources

Exams

Colleges

Predictors & Articles

Resources

Exams

Colleges

Predictors

Resources

NEET CompanionUse NowYour one-stop Counselling package for NEET, AIIMS and JIPMER

Exams

Colleges

Upcoming Events

Resources

Exams

Colleges

Resources

Quick Links

Top Streams

Specializations

Resources

Top Providers

Exams

Colleges

Resources

Diploma Colleges

Exams

Colleges

Resources

Exams

Resources

Top Courses & Careers

Colleges

Exams

Upcoming Events

Resources

Other Exams

Exams

Colleges

Top Countries

Student Visas

Exams

Top Schools

Products & Resources

NCERT Study Material

Question : Economics is all about making choices in the presence of ________.Option 1: ScarcityOption 2: Unlimited resourcesOption 3: Limited resourcesOption 4: All of the above

Related Questions

Question : Scarcity and ______ go together.

Question : The study of how individuals allocate their limited resources to satisfy unlimited wants is known as:

Question : Economic problem is a problem of ________.

Question : Economizing of resources means __________

Question : Basic problem of the economy is

Trending Articles/News

Sign In/Sign Up

Download the Careers360 App on your Android phone

B.Tech CompanionUse Now
Your one-stop Counselling package for JEE Main, JEE Advanced and BITSAT

NEET CompanionUse Now
Your one-stop Counselling package for NEET, AIIMS and JIPMER

Question : Economics is all about making choices in the presence of ________.
Option 1: Scarcity
Option 2: Unlimited resources
Option 3: Limited resources
Option 4: All of the above