Scarcity Means

question 150

Multiple Choice

Scarcity means

• A) wants are greater than the limited resources available to satisfy these wants.
• B) wants are less than the limited resources available to satisfy these wants.
• C) resources are infinite.
• D) wants are limited.
• E) both c and d

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Definitions:

Credit Balance

The amount of money that a creditor owes to a debtor, reflecting payments exceeding charges on an account.

Collection Agency

A business that specializes in recovering unpaid debts on behalf of the original creditor.

Ledger Card

A ledger card is a physical or digital record used to track financial transactions and balances over time in accounting practices.

Preprinted

Materials or documents that have been printed in advance with standardized or generic information before any specific, customizable information is added.