# PTE ASQ #36: Fundamentals of Economics

Answer Short Question #36 - Level 3 - Feeds Listening

> You will hear a question. Please give a simple and short answer. Often just one or a few words is enough.

## Answer

Economics

## Explanation

The correct answer is Economics. This field specifically examines the production, distribution, and consumption of goods and services to address the problem of scarcity.

What to watch: Listen for "allocate resources" and "wants and needs." These describe economics, the study of how people make choices with limited resources. One word, "economics," is enough. Do not say "business" or "finance," which are narrower fields.

## Hints

- Think about the social science that deals with the management of money and resources.
- The term starts with the letter 'E' and is often associated with supply, demand, and market systems.

## Transcript

What is the study of how individuals, businesses, and governments allocate resources to satisfy their wants and needs called?

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