Scarcity Exists Because

question 467

Multiple Choice

Scarcity exists because

• A) of the inefficient choices we make.
• B) poor people need more food and other goods.
• C) society and people are greedy and wasteful.
• D) our wants exceed the resources available to satisfy them.

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Definitions:

Capital Lease

A lease considered a purchase of an asset for accounting purposes, where the lessee acquires all risks and rewards associated with ownership.

Operating Lease

A leasing agreement allowing the use of an asset without ownership, typically involving payments for a shorter period than the asset's useful life.

Debt Ratios

Financial metrics that measure the proportion of a company's debt to its assets or equity, indicating the financial leverage and risk.

CCA Recapture

Capital Cost Allowance Recapture, a tax mechanism in Canada that occurs when the sale price of a depreciable asset exceeds its undepreciated capital cost or book value.