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Tuesday, 05 May 2026
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Which of the following is central to the definition of Economics?

Which of the following is central to the definition of Economics?
Take Free Practice Test On 2026 JAMB UTME, Post UTME, WAEC SSCE, GCE, NECO SSCE
  • A Resources
  • B Wants
  • C Scarcity
  • D Capital
Correct Answer: Option C
Explanation:
Scarcity is one of the most important components of the definition of economics. It signifies the gap between limited resources and limitless wants.

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