Stock owners have claims on the assets and earnings of the firm in proportion to the percentage of total stock they own
Indicate whether the statement is true or false
T
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All human wants cannot be satisfied because of the problem of scarcity
a. True b. False Indicate whether the statement is true or false
When a factory pollutes the environment, there are costs associated with the damage to human health, property values, wildlife habitat, reduction of recreation possibilities, or other negative impacts. The term ________________ is used to describe those costs, which fall on third parties unrelated to the business.
a. positive externalities b. additional external costs c. collateral damage d. social externalities
Unrestrained monopolies are criticized because they restrict output and reduce innovation
a. True b. False Indicate whether the statement is true or false
Economic models
a. cannot be useful if they are based on false assumptions. b. were once thought to be useful, but that is no longer true. c. must incorporate all aspects of the economy if they are to be useful. d. can be useful, even if they are not particularly realistic.