Why Is It That All of Our Wants Cannot Be

question 175

Multiple Choice

Why is it that all of our wants cannot be satisfied?

• A) because of shortages
• B) because we cannot seem to decide what we really want
• C) because other people try to change your mind about what you want
• D) because limited resources mean all the goods we want cannot be obtained

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Definitions:

Raw Material Price

The cost of basic materials before being processed or used in manufacturing.

Net Operating Income

Earnings derived from a company's everyday business operations, excluding taxes and other non-operational expenses.

Standard Cost

A predetermined cost of manufacturing, administering, or marketing a product under normal conditions.

Selling and Administrative Expenses

The sum of all direct and indirect selling expenses and all general and administrative expenses of a company.