Multiple Choice
Which of the following areas of economics studies issues such as ways to reduce teenage smoking?
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0. Basic Principles of Economics
Introduction to Economics
Struggling with Microeconomics?
Join thousands of students who trust us to help them ace their exams!Watch the first videoMultiple Choice
Which of the following is a reason to study economics?
A
To understand how scarce resources are allocated among competing uses
B
To design computer software
C
To learn how to predict the weather
D
To study the structure of atoms
Verified step by step guidance1
Step 1: Understand the core focus of economics, which is the study of how individuals and societies make choices when faced with scarcity.
Step 2: Recognize that scarcity means resources are limited, so economics examines how these limited resources are allocated among various competing uses.
Step 3: Identify that economics is not concerned with designing computer software, predicting the weather, or studying atomic structures, as these belong to other fields like computer science, meteorology, and physics respectively.
Step 4: Conclude that the primary reason to study economics is to understand the allocation of scarce resources among competing uses.
Step 5: Therefore, the correct answer aligns with the fundamental economic problem of scarcity and resource allocation.
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