The Most Basic Concept in Economics Is

question 217

Multiple Choice

The most basic concept in economics is

• A) wealth.
• B) income.
• C) scarcity.
• D) human need.

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Definitions:

Treasury Bills

Short-term government securities with maturity periods of one year or less, sold at a discount from their face value.

Desire To Invest

The inclination or willingness of individuals or entities to allocate resources to investment opportunities with the expectation of earning a return.

Cash Surpluses

Cash surpluses refer to the amount of cash that exceeds the cash required for day-to-day operations, potentially available for investment or other purposes.

Lockbox System

A service provided by banks to companies for receiving payment from customers, involving payments sent to a special post office box rather than the company's address.