In Economics, Secondary Effects Refer to the

question 67

Multiple Choice

In economics, secondary effects refer to the

• A) best alternative that must be forgone as the result of a choice.
• B) unintended consequences of a change that are not immediately identifiable but are felt only with time.
• C) immediate and visible intended consequences of a change.
• D) impact of the scarcity of resources on the scarcity of the goods that are produced with those resources.

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Definitions:

Decrease

A reduction in the size, amount, or rate of something.

Accounts Receivable

Accounts receivable represents money owed to a company by its customers for goods or services delivered or used but not yet paid for, typically recorded as an asset on the balance sheet.

Credit

An accounting entry recording a sum that has been received or is receivable, typically representing an increase in assets or a decrease in liabilities.

Services

Tasks or activities performed for the benefit or convenience of others, often in exchange for payment.