In General, When the Basic Need for a Product Is

question 18

True/False

In general, when the basic need for a product is absent, no reasonable expenditure of effort is likely to enable a firm to market its goods or services.

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Definitions:

Equipment

Tangible property used in the operation of a business, not intended for sale, such as machinery, computers, and tools.

Natural Resources

Assets that are found in nature and are used for economic gain, such as oil, forests, minerals, or water.

Depletion Expense

An accounting approach for allocating the cost of extracting natural resources from the earth over the period of their extraction.

Real Estate

Property consisting of land and the buildings on it, along with its natural resources such as crops, minerals, or water; immovable property of this nature.