Figure 1.3 -Economics Is the Study of the Allocation of Scarce Resources

question 20

True/False

Figure 1.3

-Economics is the study of the allocation of scarce resources and scarce time, and the ways in which people utilize those resources or that time.

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Definitions:

Securities Litigation Uniform Standards Act of 1998

A federal law that limits the securities class action lawsuits in state courts, aiming to prevent forum shopping and inconsistent rulings.

Class Action Suits

Legal actions in which a group of people collectively bring a claim to court or in which a class action is brought against a defendant.

Sarbanes-Oxley Act of 2002

A U.S. law passed in response to financial scandals to protect investors by improving the accuracy and reliability of corporate disclosures.

Securities and Exchange Commission

A U.S. federal agency responsible for regulating the securities industry, enforcing federal securities laws, and ensuring market integrity.