Because People's Wants Are Unlimited but Resources Are Scarce

question 4

Multiple Choice

Because people's wants are unlimited but resources are scarce,

• A)only the rich get everything they want
• B)choices must be made
• C)there will be more services produced than goods
• D)people search for spiritual fulfillment rather than material fulfillment
• E)poor people never get anything they want

---

Definitions:

Interest Rate

The percentage at which interest is charged or paid on a loan or investment over a specified period.

Accrued Interest

Interest that has accumulated over a period of time but has not yet been paid.

Premium

An amount paid for an insurance policy, or the price above the normal or nominal cost in financial transactions.

Discount

A reduction from the usual cost of something, often expressed as a percentage off the original price.