Economics is the study of how ________ choose to employ _________ resources that could have alternative uses in order to produce various commodities that satisfy their wants and to __________them for consumption among various persons and groups in society.”

people and society, scarce, distribute

The correct answer is option 1: people and society, scarce, distribute

"Economics is the study of how people and society choose to employ scarce resources that could have alternative uses in order to produce various commodities that satisfy their wants and to distribute them for consumption among various persons and groups in society.”