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The science of what is purchased and sold
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The science of how people meet their needs and wants with their limited resources
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The science of how people spend money
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The science of how resources are allocated for profit
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1 answer
The best definition for economics from the options provided is:
The science of how people meet their needs and wants with their limited resources.
This definition captures the essence of economics as it focuses on the allocation of scarce resources to satisfy unlimited wants and needs.
