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Introduction to NPO

is the study ...

Question

_________ is the study of how people and society choose to employ scarce resources that could have alternative uses in order to produce various commodities that satisfy their wants and to distribute them for consumption among various persons and groups in society.

A

Economics

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B

Resource allocation

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C

Statistics

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D

Production system

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Solution

The correct option is B Economics
Economics is a social science that studies how society chooses to allocate its scarce resources, which have alternative uses, to provide goods and services for present and future consumption.

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