Although Freshwater Is Very Abundant in Most Places,it Is Scarce

question 161

Multiple Choice

Although freshwater is very abundant in most places,it is scarce because:

• A)it has no alternative uses.
• B)there is not enough of it to meet all needs.
• C)it is a free good.
• D)scarce goods in general are not all that costly.

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Definitions:

Annual Interest Expense

The total cost incurred by a borrower in a year for all debts, represented as the interest payments made on any borrowed funds.

Bond Discount

The difference between the face value of a bond and its selling price when the bond is sold for less than its face value.

Premium

The amount paid for an insurance policy, or the amount by which a bond or stock sells above its par or face value.

Straight-Line Method

A method of calculating depreciation by evenly spreading the cost of an asset over its expected useful life.