The Primary Economic Reason Why People Cannot Have Everything They

question 20

Multiple Choice

The primary economic reason why people cannot have everything they want is because

• A)people are selfish.
• B)scarcity exists.
• C)there is not enough economic growth in the world.
• D)the population of the world is declining.

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Definitions:

Bookkeeper

A person responsible for recording the financial transactions and maintaining the financial records of a business.

Negotiable Instruments

Written documents that guarantee the payment of a specific amount of money to the bearer or to a specific person, under certain conditions.

Fraud in the Inducement

A type of fraud that occurs when a person is deceived into entering into an agreement through misrepresentation of material facts.

Shelter Rule

In law, this rule allows a person who acquires goods from someone who did not have clear ownership to gain rightful ownership if the original seller had the power to transfer rights in the goods to a good faith purchaser.