The Idea That Resources Are Scarce but Wants Are Unlimited

question 51

Multiple Choice

The idea that resources are scarce but wants are unlimited is known as

• A)marginal cost
• B)opportunity cost
• C)sunk cost
• D)resource cost
• E)production cost

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Definitions:

Before-tax Cash

Before-tax Cash refers to the amount of cash flow or income a company generates before any taxes have been deducted.

Fundamental Share Price

The intrinsic value of a stock based on underlying economic and financial factors, excluding market anomalies.

Market Share

The portion of a market controlled by a particular company or product, usually expressed as a percentage of total sales in that market.

Reported Profit

The profit amount shown in a company's financial statements, adhering to accounting standards and principles.