If a Decision Is Made and It Is the Best

question 105

Multiple Choice

If a decision is made and it is the best choice for society,the decision is said to be

• A)consistent with scarcity.
• B)a want-maximising choice.
• C)a valid economic choice.
• D)made in the social interest.
• E)made in self-interest.

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Definitions:

Semiannual Interest

Interest calculated or paid twice a year, often related to bond or loan agreements.

Straight-Line Method

A method of calculating depreciation of an asset where the expense is uniformly spread over its useful life.

Fiscal Year

A 12-month period used for accounting purposes that may not coincide with the calendar year.

Callable Bond

A bond that can be redeemed or "called" by the issuer before its maturity date, usually at a premium above par value.