In Any Economic System,scarce Resources Have to Be Allocated Among

question 1

Multiple Choice

In any economic system,scarce resources have to be allocated among competing uses.Market economies harness the forces of

• A)government to allocate scarce resources.
• B)supply and demand to allocate scarce resources.
• C)credit cards to allocate scarce resources.
• D)nature to allocate scarce resources.

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Definitions:

Operating Activities

The day-to-day activities of a business that are directly related to producing and selling its goods or services, which generate most of its cash flows.

Income Activities

Actions or operations that generate revenue or income for a business.

Manufacturing Business

A type of business that produces finished goods from raw materials through a combination of manpower, machines, and chemical processes.

Statement of Stockholders' Equity

A financial document that shows changes in the equity section of the balance sheet over a period, including net income, dividend payments, and issuance or repurchase of stock.