JAMB 2018 Economics · Question 83
The main concern of economists is to________-
Options
- A.Control the growth of population
- B.Redistribute income between the rich and poor
- C.Satisfy all human wants
- D.Allocate scarce resources to satisfy human wants
Answer: D. Allocate scarce resources to satisfy human wants
Explanation written with AI and checked against the answer key
Step 1: Analyze the question It asks about the main concern of economics as a discipline. This points to the basic economic problem.
Step 2: The concept Economics is the study of how people choose to use limited (scarce) resources to satisfy unlimited human wants. The central problem is scarcity. Because resources are limited and wants are unlimited, we must choose, and choosing means allocating resources among competing uses. This is why economists focus on the three basic questions: what to produce, how to produce, and for whom to produce.
Step 3: Evaluate each option
- A. Control the growth of population: This is a concern for demographers and government policy, not the main concern of economics.
- B. Redistribute income between the rich and poor: This is a policy goal (equity), not the central concern of the discipline.
- C. Satisfy all human wants: This is impossible, since wants are unlimited and resources are scarce. Economists try to satisfy as many wants as possible, not all of them.
- D. Allocate scarce resources to satisfy human wants: This captures the core of economics: scarcity, choice, and allocation.
Step 4: Answer
Tip: When you see "main concern of economics," think scarcity → choice → allocation. Be wary of options containing "all" or "every," like option C, because they are usually wrong in Economics.
AI can make mistakes. Report anything that looks wrong.
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