JAMB - Economics (2018 - No. 76)
The main concern of economists is to________-
Control the growth of population
Redistribute income between the rich and poor
Satisfy all human wants
Allocate scarce resources to satisfy human wants
Uitleg
Economics seeks to study the relationship between ends and means. Ends are unlimited while the means are limited. Scarcity means resources are limited in relation to the ends. Economics therefore seek is concerned with allocating limited resources among the competing and unlimited wants.