Scarcity Is Likely to Be

question 10

Multiple Choice

Scarcity is likely to be

• A)a problem that will be solved by the proper use of available resources.
• B)unique to the twentieth century.
• C)a problem that will always exist.
• D)a result of the work ethic.
• E)eliminated with a better understanding of economics.

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Definitions:

Trading Securities

Financial instruments bought and held primarily for selling in the near term to generate income on short-term price differences.

Fair Value

An estimate of the price at which an asset or liability could be traded in an orderly transaction between market participants at the measurement date.

Equity Method

An accounting technique used by a company to record its investment in another company when it has significant influence but does not fully control it.

Ownership Percentage

The share or portion of a company that is owned by an individual or entity, typically expressed as a percentage of total outstanding shares.