The central problem in economics is that of:

ensuring that each individual contributes equally to production activities in the economy.

guaranteeing an equal standard of living for every citizen in the country.

deciding whether a country should adopt a command economy or a market economy.

allocating scarce resources such that society’s unlimited wants are satisfied in the best possible manner.Correct

Explanation

Economics is the study of the allocation of scarce resources such that society’s unlimited needs or wants are satisfied in the best possible manner.