Which of the Following Applies to an Object Serving as a Store

question 252

Multiple Choice

Which of the following applies to an object serving as a store of value?
I.If an object can be held and exchanged later for a good or service, it serves as a store of value.
II.The less stable an object's value, the better it serves as a store of value.
III.A work of art can serve as a store of value.

• A) I only
• B) I and II
• C) I and III
• D) I, II and III

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Definitions:

Optimal Output Rule

The principle that profit is maximized by producing the quantity of output at which the marginal revenue of the last unit produced is equal to its marginal cost.

Marginal Revenue

The additional income earned by a company from selling one more unit of a good or service, reflecting the benefit of increased production.

Marginal Cost

The boost in expense for crafting one more unit of a product or service.

Profits

The financial gain realized when the revenue earned from economic activities exceeds the expenses, costs, and taxes associated with sustaining the activity.