Which of the following is a focus of economics?

The focus of economics is fundamentally centered on the concept of scarcity and how societies allocate limited resources to satisfy unlimited wants. Making decisions with scarce resources is a core principle that drives economic theory and practice. Economists study how individuals, businesses, and governments make choices on the allocation of these resources, striving to understand the trade-offs involved in various decisions.

This exploration involves analyzing not only the choices themselves but also the implications of those choices on overall welfare, market dynamics, and resource efficiency. By examining how resources are allocated, economists can assess the efficiency and effectiveness of economic systems and provide insights that guide policy decisions and individual behavior.

While increasing product diversity, enhancing consumer satisfaction, and improving marketing effectiveness may be important aspects within specific fields such as marketing or business management, they do not encompass the broader framework of how economies function based on scarcity and resource allocation, which is at the heart of economic study.