Scarcity Exists Because

question 69

Multiple Choice

Scarcity exists because

• A) human wants exceed the resources available to satisfy them.
• B) some individuals have low income.
• C) the costs of production are high.
• D) some people make bad economic decisions.
• E) people take too much leisure time.

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Definitions:

Authorized Shares

The upper limit of shares a corporation can legally distribute, as outlined in its articles of incorporation.

Shareholders

Individuals or entities that legally own one or more shares of stock in a joint-stock company or corporation.

Company

A legal entity formed by a group of individuals to engage in and operate a business—commercial or industrial—enterprise.

Par Value

The face value of a bond or stock as stated by the issuing company, which may differ from its market value.