According to Economists,competition Exists Because of

question 42

Multiple Choice

According to economists,competition exists because of

• A) scarcity.
• B) capitalism.
• C) money.
• D) unintended effects.

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Definitions:

Book Value

The net value of an asset calculated as total assets minus total liabilities, often used to estimate a company's value.

Land Account

A type of asset account on a company's balance sheet that represents the cost of land owned by the company.

Expenditures

Outflows of money or other valuable assets that are paid or incurred as a result of acquiring goods or services.

Acquisition Cost

The total cost that a company recognizes for bringing an asset into its possession, including purchase price, installation charges, and other necessary expenditures.