Economics is best described as:经济学最好地描述为：

Question

BlackTom AI · Accepted Answer

We start by identifying what the question asks: a characterization of economics. Each option presents a different description of the field, so we evaluate them one by one.
Option a: 'the study of assigning dollar values to human wants' This is too narrow and misleading. Economics is not solely about assigning dollar values; it involves broader concepts like resource allocation, scarcity, production, trade, and welfare. Limiting it to assigning dollar values ignores many scopes (such as how choices are made, how markets coordinate, and how policy affects outcomes).
Option b: 'the study of monetary flows in an economy' While money flows are a component of economics, focusing only on monetary flows ignores real variables like goods, services, resources, prices, and incentives. Economics encompasses more than just money movement; it includes production, consumption, and allocation mechanisms beyond monetary transactions.
Option c: 'the study of how to allocate limited resources to satisfy unlimited wants' This aligns with the classic economic definition. It emphasizes scarcity (limited resources) and the fundamental problem of unlimited wants, and it highlights the central activity of economics: allocation decisions, efficiency, and trade-offs across individuals and societies. This description captures the core purpose of the field.
Option d: 'the study of assigning values' While valuing things is part of economics (opportunity costs, prices, valuations), this description is incomplete. It doesn’t mention scarcity, allocation, or the broader economic processes. It also leaves out how values are determined in markets and through institutions, making it too vague.
In summary, options a, b, and d each miss essential aspects of economics by either narrowing the focus, excluding key components like scarcity and allocation, or being overly vague. Option c accurately reflects the defining purpose of economics by linking scarce resources to the satisfaction of wants through allocation decisions.

Economics is best described as:经济学最好地描述为：

View Explanation

Log in for full answers

Similar Questions

Government can correct the Blank ______ of resources by subsidizing consumers of the product.

Question at position 6 In most societies, resources are allocated bya small number of central planners.a single central planner.the combined actions of millions of households and firms.those firms that use resources to provide goods and services.

MCQ1-22. Economics is best defined as the study of

What does ‘resource allocation’ refer to?

According to the video, who is most important in determining how resources are allocated in a market system?

What does ‘resource allocation’ refer to?

Economics studies ______.

Despite ambitious targets in China’s First Five-Year Plan (1953–1957), what major economic challenge persisted throughout the 1950s and 1960s?

More Practical Tools for Students Powered by AI Study Helper

Homework AI Solver

Stylized AI Paper Writer

Plagiarism Checker Assistant

Citation AI Academic Writing Tool

In-Class Translation Assistant

AI Note Generator

AI Quiz Answers

Past Exam Questions from University Test Bank

Smart Practice Assistant

Adaptive Practice

Making Your Study Simpler