Information Can Be Thought of as a

question 45

Multiple Choice

Information can be thought of as a

• A) non-economic piece of data.
• B) violation of the invisible hand idea that the pursuit of self-interest promotes social interest.
• C) good whose marginal benefit is infinite.
• D) good whose marginal benefit decreases as more information is acquired.

---

Definitions:

LIFO Cost Flow

An inventory valuation method that assumes the last items placed into inventory are the first ones to be sold.

Cost of Goods Sold

The immediate expenses linked to the creation of products a company sells, encompassing costs for materials and labor.

Laptop Computers

Portable personal computers suitable for mobile use, characterized by their compact size, low weight, and capability to perform most tasks of desktop computers.

FIFO Cost Flow

An inventory valuation method where the cost of goods sold is based on the cost of the oldest inventory items, with the assumption that the oldest items are sold first.