Freshwater Is Considered a Scarce Good Because

question 75

Multiple Choice

Freshwater is considered a scarce good because:

• A)not enough of it is available for all needs.
• B)it does not have any uses.
• C)scarce goods are not expensive.
• D)not enough of it is available for all needs and because it is not expensive.

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Definitions:

Markdown

A reduction in the regular selling price of a product or service.

Half-inch Plywood

A standard thickness of plywood, widely used in construction and carpentry, measuring half an inch.

Operating Profit

Earnings from a company's core business activities, excluding deductions of interest and taxes.

Mark-up

A rephrased definition: The amount by which the selling price of an item exceeds its cost price, expressed as a percentage of the cost.