Which of the Following Is Not Correct

question 20

Multiple Choice

Which of the following is not correct?

• A)Economists use some familiar words in specialised ways.
• B)Economics has its own language and its own way of thinking, but few other fields of study do.
• C)Supply, demand, elasticity, comparative advantage, consumer surplus, and deadweight loss are all terms that are part of the economist's language.
• D)The value of the economist's language lies in its ability to provide you with a new and useful way of thinking about the world in which you live.

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Definitions:

Ending Inventory

The total value of goods available for sale at the end of an accounting period, calculated as the beginning inventory plus purchases minus the cost of goods sold.