WAEC Economics 2020 Objective — Question 1
Question 1 of 50 from the West African Examinations Council (WAEC) Economics 2020 Objective paper, with the correct answer and a full explanation.
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Which of the following is central to the definition of Economics?
- A. Resources
- B. Wants
- C. ScarcityCorrect
- D. Capital
Explanation
Scarcity is the central problem of every human, firm and organization, and it's the main reason that spurs the study of economics as a course.
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