The Most Basic Concept of Economics Is

question 309

Multiple Choice

The most basic concept of economics is

• A)self-interest.
• B)scarcity.
• C)demand.
• D)rationality.

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Definitions:

Notes Payable

Notes payable are written agreements where a borrower agrees to pay back the principal amount along with interest to a lender at a future date.

Accrued Interest

Accrued Interest is the interest that has accumulated on a bond or loan since the last interest payment date but has not yet been paid.

Liquidity

The measure of how quickly and easily an asset can be converted into cash without significant loss of value.

Current Liabilities

Current liabilities are a company's debts or obligations that are due to be paid to creditors within one fiscal year.