Because of Scarcity

question 40

Multiple Choice

Because of scarcity

• A) individuals and societies are allowed no choice about which wants and needs to satisfy.
• B) individuals and societies must choose which wants and needs to satisfy.
• C) all choices about wants and using resources must be made by the government.
• D) choices can be made about which wants to satisfy,but not about which resources to use.
• E) choices must be made about which resources to use,but not about which wants to satisfy.

Recognize the importance of clear responsibilities and ground rules in team success.

Differentiate between successful and less successful team behaviors and strategies.

Appreciate the significance of business etiquette in maintaining professional relationships.

Understand the role of active listening and emotional intelligence in team interactions.

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Definitions:

Trade or Business

Activity conducted for the purpose of earning income or profit, involving regular and continuous activities in a particular field.

Deemed Worthless

A term referring to assets that have become valueless and are recognized as a loss for tax purposes.

Long-Term Loss

A loss realized from the sale of an asset held for more than one year, which can offset long-term capital gains.

Short-Term Loss

A financial loss realized on the sale of an asset held for one year or less, used to offset capital gains and reduce taxable income.