Scarcity Is Defined as the Condition in Which

question 174

Multiple Choice

Scarcity is defined as the condition in which

• A) both wants and resources are limited.
• B) wants are finite and resources infinite.
• C) both wants and resources are infinite.
• D) wants are infinite and resources finite.

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Definitions:

Assignment

The transfer of rights, duties, or property from one party to another, often used in the context of contracts or real property.

Stop Payment

An instruction given to a bank by an account holder not to pay a check or payment that has been issued but not yet cashed.

Cheque

A written, dated, and signed instrument that directs a bank to pay a specific sum of money to the bearer or a named party.

Notice

A formal communication or announcement, which can be in written or verbal form, informing individuals or parties about specific information, conditions, or requirements.