Scarcity of Resources

question 175

Multiple Choice

Scarcity of resources

• A) affects both market and public sector decision making.
• B) affects market, but not public sector decision making.
• C) affects public sector, but not market decision making.
• D) is really not an issue in such a wealthy nation as the United States.

---

Definitions:

Current Portion

Refers to the portion of long-term debt that is due to be paid within the next year.

Retained Earnings

The portion of net income that is not distributed to shareholders as dividends but is kept by the company for reinvestment.

Fiscal Year

A fiscal year is a 12-month period used for accounting purposes, often not aligning with the calendar year, to report financial performance.

Ledger

A comprehensive collection of a company's financial accounts, where all transaction data is recorded, including debits and credits.