What is it called if the study of how people and government use limited resources to satisfy unlimited wants?

The study of how people and governments use limited resources to satisfy unlimited wants is called economics. It examines the choices and trade-offs that individuals and societies face in allocating resources to meet their needs and desires. Economics is divided into two main branches: microeconomics, which focuses on individual and business decisions, and macroeconomics, which looks at the economy as a whole.