If a Good Has Become More Scarce,then We Know for Sure

question 48

Multiple Choice

If a good has become more scarce,then we know for sure that

• A)the demand for it increased.
• B)the supply of it decreased.
• C)either the demand for it increased or the supply of it decreased.
• D)both the supply of it and the demand for it decreased.

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Definitions:

Iterative Technique

An iterative technique refers to a process or method where a sequence of operations is repeated in order to approach closer to a desired result.

Planning Assumptions

Assumptions made regarding future events, conditions, and decisions that affect an organization's strategic planning and operations.

Dividend Payout Ratio

Dividend Payout Ratio is a financial metric that measures the proportion of a company's earnings paid out to shareholders in the form of dividends.

Retained Earnings

This refers to the cumulative amount of net income generated by a company that is reinvested in the business, minus any dividends paid out to shareholders.