Question 3
Economics is best described as:
The study of money and banking only
The science of constrained choices and allocation of scarce resources to meet unlimited human wants
A guaranteed path to business success
The study of government taxation
BDM Quiz 1 19 Jul 2026 — Question 3
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Correct answer
The science of constrained choices and allocation of scarce resources to meet unlimited human wants
Question 3 of 23 in the IIT Madras BS Business Data Management (BDM) Quiz 1 paper sat on 19 Jul 2026, in the May 2026 term (Business Data Management 16 Jul 26). It carries 1 mark.
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