Economics is the study of how people use their scarce resources to supply unlimited wants True False QUESTION 6 One reason our economy uses prices is to: Make sure the rich get richer while the poor get poorer. Establish how badly people want a particular item O Make us dependent on other people O Make sure we never get everything we want. QUESTION 7 "economics studies choices" means We have to make choices because we do not have enough money O Economists want to know why some people don't have to make hard choices about life Economics studies how people make choices between wants and resources People have to make choices everyday QUESTION 8 People usually make choices based on: Rational self interest How those choices affect others Greed and nothing else What they can afford