Goods That Can Be Produced Using Rare Productive Resources Have

question 78

Multiple Choice

Goods that can be produced using rare productive resources have a ________ elasticity of supply.The greater the amount of time available after a price change,the ________ is the elasticity of supply.

• A)low;smaller
• B)high;greater
• C)high;smaller
• D)low;greater
• E)high;more inelastic

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Definitions:

Market-To-Book Value

A ratio comparing a company's current market price to its book value, used to evaluate whether a stock is over or undervalued.

Financial Statements

Are formal records of the financial activities and position of a business, person, or other entity, providing an overview of a company's financial condition in both short and long term.

Average Collection Period

The ratio of accounts receivable to daily sales. Also called days’ receivables.

Financial Statements

Documents that report the financial activities and condition of a business or entity, including the balance sheet, income statement, and cash flow statement.