Which Statement Is True

question 249

Multiple Choice

Which statement is true?

• A)The economic problem is limited to poverty.
• B)Scarcity is no longer an economic problem in the United States.
• C)If we all had more money there would be less scarcity.
• D)None of these statements are true.

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Definitions:

Transactional Function

The activities involved in transferring ownership and possession of goods from sellers to buyers, such as selling, buying, and risk bearing.

Distribution

The process of making a product or service available for consumption or use by a consumer or business user.

Risk Taking

The willingness to engage in behaviors that have the potential to be harmful or dangerous, yet also provide the opportunity for some kind of outcome that can be seen as positive.

Facilitating Functions

Activities that help in the smooth exchange of products and services between producers and consumers, such as financing, marketing information management, and logistics.