Which of the following is' the definition that gives the best oyerview of economics? Economics is the social science that studies the choices __ A. made by bankers B. made by the military C. that we make as we cope with scarcity D. that we make when we trade in markets

## Step 1<br />The question asks for the definition that best describes economics. The options provided are:<br />A. made by bankers<br />B. made by the military<br />C. that we make as we cope with scarcity<br />D. that we make when we trade in markets<br /><br />## Step 2<br />Economics is a social science that studies how individuals, institutions, and societies manage scarce resources. It focuses on the choices people make to cope with scarcity.<br /><br />## Step 3<br />Option A and B are too specific and only focus on certain groups (bankers and military), which does not encompass the broad scope of economics.<br /><br />## Step 4<br />Option D is also too specific as it only focuses on trading in markets, which is just one aspect of economics.<br /><br />## Step 5<br />Option C, "that we make as we cope with scarcity", is the most comprehensive definition as it covers the fundamental concept of economics, which is the study of how people make choices to cope with scarcity.