Post-UTME Economics 2008 Objective — Question 1

Question 1 of 1 from the Post-UTME Screening (Post-UTME) Economics 2008 Objective paper, with the correct answer and a full explanation.

Economics is the study of human behaviour as it relates to the

A. consumption of goods
B. production of goods
C. distribution of goods
D. (the standard definition covers all three: production, distribution and consumption of goods and services)Correct

Explanation

The standard definition of economics covers the full scope of production, distribution and consumption of goods/services (and their relation to scarce resources).

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