Which One of the Following Is an Economic Obligation for a Business

question 56

Multiple Choice

Which one of the following is an economic obligation for a business entity?

• A) Salaries paid to employees for services rendered
• B) Materials used in manufacturing products
• C) Amount owed to creditors
• D) Payment of rent for the next year

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Definitions:

Highest-valued Uses

Refers to the allocation of resources where they can generate the highest possible value or benefit, optimizing economic efficiency.

Economic Question

A query or issue that pertains to the production, distribution, and consumption of goods and services.

Distribution Question

Refers to how the income or wealth is shared among different groups in society.

Specialization

The process of concentrating on and becoming expert in a particular subject or skill.