Natural Resources Are

question 12

Multiple Choice

Natural resources are:

• A)Assets that are physically consumed when used such as standing timber,mineral deposits,and oil and gas fields.
• B)Tangible assets used in the operations of the business.
• C)Current liabilities because they are depleted.
• D)Not subject to allocation to expense over their useful lives.
• E)Depleted using a straight-line method.

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Definitions:

Consumption

The usage of goods and services by households, contributing to the aggregate demand in an economy.

Determinants

Factors that can influence the outcome of a certain situation or the value of a specific variable in economics.

Demand

The quantity of a particular good or service that consumers are willing and able to purchase at a given price level.

Budget Line

A graphical representation of all possible combinations of two goods which can be purchased with a given budget and prices.