ECONOMICS
SCARCITY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The monetary worth of something
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Something we want
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Something we need
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None of the above
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Detailed explanation-1: -What is Monetary Value? Monetary value is the amount that would be paid in cash for an asset or service if it were to be sold to a third party. For example, tangible property, intangible property, labor, and commodities are priced at their monetary value. January 13, 2023 / Steven Bragg/ Definitions.
Detailed explanation-2: -Examples of Monetary Value For example, the price of agricultural products, natural resources, tangible property, land, legal property rights, and labor is the monetary value of these commodities. Intangible assets such as publishing rights and patents also have a monetary value.
Detailed explanation-3: -Monetary means relating to money, especially the total amount of money in a country. [business]
Detailed explanation-4: -Examples of monetary items are cash, marketable securities, accounts receivable, accounts payable, sales taxes payable, and notes payable. When monetary assets are held, their purchasing power tends to decline as inflation reduces their value.