Question on: JAMB Economics - 2018
The study of Economics becomes necessary because of the______________
A
Large population size of the world
B
Scarcity of resources
C
Opportunity cost of goods and services
D
Need to satisfy every desire of man
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Correct Option: B
Economics is the study of how societies use scarce resources to produce valuable commodities and distribute them among different people. ... Indeed, economics is an important subject because of the fact of scarcity and the desire for efficiency. frbsf.org
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