Goods Are Scarce When

question 6

Multiple Choice

Goods are scarce when:

• A)their price is too low.
• B)their price is too high.
• C)the amount people want is more than the amount available at a zero price.
• D)people want less of something as compared to what is available.
• E)their prices are controlled.

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Definitions:

Implied Duration

Estimated time that represents how long it takes for the price of a fixed-income investment to be repaid by its internal cash flows.

Business Trust

A legal arrangement where assets are managed by trustees for the benefit of the trust's beneficiaries, often used in business for tax and estate planning.

Assets

Resources owned or controlled by a business, individual, or entity which have value and can be used to meet debts, commitments, or legacies.

Profits

The financial gain obtained when the revenue from a business activity exceeds the expenses, costs, and taxes involved in sustaining the activity.