AP Microeconomics

Answer - B - At its most basic level, economics is considered to be the study of how people deal with scarcity.

Key Takeaway: Economics analyzes what resources are scarce, how the society makes choices about the allocation of those resources, and how those choices can be made. It is the study of how a society produces, distributes, and consumes goods and services. Economic analysis is conducted throughout a number of disciplines, including politics, business, education, sociology, law, and health.