Which of the Following Statements About Scarcity Is True

question 49

Multiple Choice

Which of the following statements about scarcity is true?

• A) Scarcity is an undeniable part of everyone's reality due to the world's limited resources.
• B) Scarcity is not a problem for billionaires like Bill Gates.
• C) Scarcity in the world can be eliminated by rational decision making.
• D) Scarcity is a problem studied in microeconomics and is not a macroeconomic concern.

---

Definitions:

Disbursements

Payments made by a business in the course of its operations, often involving the outflow of cash to vendors or suppliers.

Control Procedures

Measures and policies implemented by a firm to ensure the integrity of financial and accounting information, promote accountability, and prevent fraud.

Petty Cash Fund

A minor sum of money maintained for the purpose of covering various minor costs through immediate transactions.

Replenished

The process of refilling or restoring inventory, supplies, or funds to their previous level or to a desired level of capacity.