pheasant hunting shotgun shells

What size of shotgun shell is the best compromise for cost and utility?
I just purchased a Remington 870 Express. I won’t use it very much, so I only want to keep a single type of ammunition. I’ll mainly have the gun for home defense, but maybe occasionally use it for pheasant hunting or shooting clays. What is the most economical size/type of shot for 2 3/4″ shells, which would be a fair compromise for all of my purposes?
Oh…it’s a 12 gauge in case you wondered.
You can use number 7-1/2 shot for shooting clays and in home self-defense.*
How to Hunt with a Shotgun : Shotgun Ammunition
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