Suppose Someone Is Concerned That Money Spent on One Children's

question 34

Multiple Choice

Suppose someone is concerned that money spent on one children's program could be more effectively spent on another program. She is describing

• A)equilibrium.
• B)supply and demand.
• C)fixed cost.
• D)opportunity cost.

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Definitions:

Accounts Payable

A liability account that tracks money owed by a business to suppliers or creditors for goods and services purchased on credit.

Notes Payable

A financial liability on a company's balance sheet representing promissory notes that require future payments of principal and possibly interest.

Maturity Value

The amount due to the owner of a financial instrument at its maturity date, including principal and interest.

Default

Failure of maker to pay the maturity value of a note when due.