According to Economic Thinking,the Presence of Scarcity Requires

question 36

Multiple Choice

According to economic thinking,the presence of scarcity requires

• A) incentives.
• B) choices.
• C) intelligence.
• D) a dismal outlook.
• E) unintended consequences.

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Definitions:

Receivables Financing

A form of financing where a company uses its accounts receivable as collateral to obtain a loan or advance, improving cash flow.

Variable Cost Per Unit

The cost that varies with the level of output or production, such as materials and labor, calculated on a per unit basis.

Monthly Interest Rate

Monthly interest rate refers to the percentage of interest that is charged or earned on a loan or investment for each month.

Net 30 Policy

A payment term that indicates the buyer must pay the full amount due within 30 days of the invoice date.