Which of the following concepts is least associated with economics? (2023)

Practice Questions

Q1
Which of the following concepts is least associated with economics? (2023)
  1. Supply and Demand
  2. Inflation
  3. Monetary Policy
  4. Creativity

Questions & Step-by-Step Solutions

Which of the following concepts is least associated with economics? (2023)
  • Step 1: Understand what economics is about. Economics studies how people use resources to meet their needs and wants.
  • Step 2: Identify key concepts in economics. These include supply and demand, scarcity, opportunity cost, and market equilibrium.
  • Step 3: Compare the concepts listed in the question. Determine which one is not a key principle of economics.
  • Step 4: Recognize that creativity, while important in many fields, is not a fundamental concept in economics.
  • Step 5: Conclude that creativity is the least associated with economics compared to the other concepts.
No concepts available.
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