The ultimate objectives of economics is to_________?

Assessment: JAMB UTME - Economics - 2018 Subject: Economics

Question 1 Report

The ultimate objectives of economics is to_________?

Answer Details
The ultimate objective of economics is to make the best use of scarce resources. This means that economics seeks to understand how people, businesses, and societies allocate limited resources such as land, labor, capital, and technology in order to satisfy unlimited wants and needs. The goal is to ensure that resources are used in the most efficient and effective way possible, so that people can enjoy a higher standard of living and greater economic prosperity.
Read lesson note on Economics As A Science (JAMB)
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