Economics is the science that studies human behavior as a relationship between ends and scarce means which have alternative uses. How do you apply this statement in actual economic situations in our economy?

Economics is the science that studies human behavior as a relationship between ends and scarce means which have alternative uses. How do you apply this statement in actual economic situations in our economy?

Macroeconomics

13th Edition

ISBN:9781337617390

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter1: What Economics Is About

Section: Chapter Questions

Problem 20QP

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Economics is the science that studies human behavior as a relationship between ends and scarce means which have alternative uses.

How do you apply this statement in actual economic situations in our economy?

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