Economics is concerned with understanding how limited resources are most likely to be allocated or used.ATrueBFalse

Economic is the study of the efficient allocation of scarce resources.

In a capitalist economy, allocation of resources is done by

If an economy is not producing at full capacity, its resources are said to be (one word).

The signals that guide the allocation of resources in a market economy areGroup of answer choicesprices.surpluses and shortages.government policies.quantities.

Why must some resources be allocated?Group of answer choicesBecause supply exceeds demandBecause they are scarceBecause they are abundantBecause of hoarding