The study of how society manages its scarce resources is most closely associated with which field of study? a) Environmental studies, b) Economics, c) Management, d) Accounting

Business Dec 10, 2020

The study of how society manages its scarce resources is most closely associated with which field of study?

a) Environmental studies,

b) Economics,

c) Management,

d) Accounting.

Expert Solution

The study of how society manages its scarce resources is most closely associated with which field of study b) Economics

The economics deals with resources and its optimum utilization in the production of goods and services that are consumed by householders, firms, government, and society as a whole. Scarcity is the genesis for evolving economics, which deals with unlimited wants and desires, and the resources to satisfy are limited.

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