Match These Terms with Their Correct Definition

question 133

Multiple Choice

Match these terms with their correct definition.
-Right to exclusive use of a distinctive name, phrase, or symbol

• A)Franchise
• B)Intangible operating assets
• C)Natural resources
• D)Operating assets
• E)Organizational costs
• F)Property, plant, and equipment
• G)Trademark
• H)Voluntary disposal

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Definitions:

Fallacy of Composition

The error of assuming that what is true of a part is necessarily true of the whole.

Prosperity

A state of economic well-being characterized by high levels of income, employment, and production.

Depression

A severe and prolonged reduction in economic activity as occurred during the 1930s

Scarce Resources

Natural, human, and capital resources that are limited in supply, which necessitates choices about how they are allocated.