How Many Alternatives Do Most Consumers Have in Financing Current

question 176

Multiple Choice

How many alternatives do most consumers have in financing current purchases?

• A)1
• B)2
• C)3
• D)4
• E)unlimited

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Definitions:

Scarcity

The fundamental economic problem of having seemingly unlimited human wants and needs in a world of limited resources.

Opportunity Cost

Incurring a cost by overlooking the next most advantageous option when making choices.

Investment

The allocation of resources, usually money, into something with the expectation of generating income or profit in the future.

Capital

Assets used in the production of goods and services, such as machinery, buildings, or tools.