Economics is the study of

The correct answer is C.

Economics is the study of how society manages its scarce resources. Scarcity is the fundamental economic problem of having limited resources and unlimited wants. People have unlimited wants, but resources are limited. This means that people have to make choices about how to use their resources.

Option A is incorrect because resources are scarce, not unlimited.

Option B is incorrect because economics is not about reducing wants. It is about making choices about how to use scarce resources.

Option D is incorrect because it is not possible to fully satisfy unlimited wants.