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:

Internal Control

Mechanisms or procedures implemented by a company to ensure the integrity of financial and accounting information, promote accountability, and prevent fraud.

Hot Stove Rule

A principle in management and discipline that suggests consequences should be immediate, consistent, impersonal, and close to the action of misconduct, akin to touching a hot stove.

Progressive Discipline

The process of tying reprimands to the severity and frequency of misbehaviour.