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Economics can best be defined as:

A. the study of the behavior of people and institutions in the production, distribution, and consumption of scarce goods.
B. the empirical testing of value judgments through the use of induction and deduction.
C. the study of how money is used in the exchange of goods and services.
D. the use of policy to refute facts and hypotheses.
E. the interaction between macro and micro considerations.

Sagot :

GinnyAnswer

Final answer:

Economics is the study of decision-making in the presence of scarcity.


Explanation:

Economics is the study of how humans make decisions in the face of scarcity. These decisions can be at the individual, family, business, or societal level. The concept of scarcity, where human wants exceed available resources, is a central theme in economics.


Learn more about Economics here:

https://brainly.com/question/14787713


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