Which of the Following Is the Best Example of the Ownership

question 44

Multiple Choice

Which of the following is the best example of the ownership of the resource called entrepreneurship

• A)John Smith's ownership of 10 shares of a manufacturer of farm tractors
• B)Pogo O'Reilly's ownership of 10 shares of a natural gas extraction company
• C)Helen Restock's ownership of a $10, 000 savings bond
• D)Abe Hawthorne's college degree in marketing
• E)Ann Stump's creative, risk-taking personality

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Definitions:

Implied in Fact Contract

A contract formed by actions and circumstances that indicate an agreement has been made, even though no explicit contract exists.

Express Contract

An agreement where the terms are clearly stated by the parties, either verbally or in writing.

Uniform Commercial Code

A comprehensive set of laws governing all commercial transactions in the United States, intended to harmonize the law of sales and other commercial transactions across states.

Interstate

Refers to activities, agreements, or commerce that occur or are conducted between two or more states.