Scarcity Would Cease to Exist as an Economic Problem If

question 95

Multiple Choice

Scarcity would cease to exist as an economic problem if:

• A)​we learned to cooperate and not compete with each other.
• B)​there were new discoveries of an abundance of natural resources.
• C)​output per worker increased.
• D)​none of the above.

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Definitions:

Dividend

A portion of a company's earnings distributed to its shareholders.

Interest Rate

The percentage at which interest is paid by a borrower for the use of money that they borrow from a lender or the rate earned on a deposit or investment.

Present Value

The present value of a future amount of money or series of cash flow using a given rate of return.

Interest Rate

The fee, quantified as a percentage relative to the principal, levied by a lender on a borrower to utilize assets.