In General,which of the Following Statements Is an Accurate Description

question 37

Multiple Choice

In general,which of the following statements is an accurate description of economists' assumptions about households? Households

• A)make consistent decisions,maximize profits,and are the principal users of the factors of production.
• B)do not make consistent decisions,maximize satisfaction,and are the principal owners of the factors of production.
• C)do not make consistent decisions,maximize profits,and are the principal users of the factors of production.
• D)make consistent decisions,maximize utility,and are the principal owners of the factors of production.
• E)make consistent decisions,maximize savings,and are the principal users of the factors of production.

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Definitions:

Accounts Receivable

Money owed by customers to a company for goods or services that have been delivered or used but not yet paid for.

Credit Sales

Sales for which payment is not received at the time of purchase, allowing customers to pay at a later date, thereby creating receivables for the seller.

Cash Sales

Transactions where payment is made in cash at the time of purchase, without the extension of credit.

Inventory

The goods and materials that a business holds for the ultimate purpose of resale or production.