LIMITS, ALTERNATIVES, AND CHOICES

Chapter 1

Taylor Economics - Chapter 1

Copyright © Houghton Mifflin Company. All rights reserved.

Economics is a social science concerned with:a)The best use of scarce resources to achieve

the maximum satisfaction of economic wants.b)Increasing the level of productive resources

so there is a minimum level of income.c)Increasing the level of productive resources so

there is maximum output in society.d)The best use of scarce resources paid for at

the minimum level of cost to consumers and businesses.

Taylor Economics - Chapter 1

Copyright © Houghton Mifflin Company. All rights reserved.

Economics is a social science concerned with:a)The best use of scarce resources to achieve

the maximum satisfaction of economic wants. (correct)

b)Increasing the level of productive resources so there is a minimum level of income.

c)Increasing the level of productive resources so there is maximum output in society.

d)The best use of scarce resources paid for at the minimum level of cost to consumers and businesses.