Majority-Rule Voting

question 75

Multiple Choice

Majority-rule voting

• A) is economically efficient.
• B) is never economically efficient.
• C) may or may not be efficient, depending upon the preferences of the voters.
• D) is economically efficient only in a democracy.
• E) is economically efficient only if there is a median voter.

Understand the conditions under which a court will uphold contracts for sale or lease of goods.

Recognize the concept of unconscionability and its relation to the Uniform Commercial Code.

Identify how additional terms affect acceptance under the Uniform Commercial Code.

Comprehend the principles judges use to interpret the UCC in agreement disputes.

---

Definitions:

Technologically Obsolete

Refers to products, services, or technology that have become outdated or no longer maintain a competitive advantage due to advancements in technology.

Simple Rate Of Return

A method to evaluate an investment's efficiency by dividing the annual incremental net operating income by the initial investment cost.

Cash Operating Costs

Expenses a company incurs during its day-to-day operational activities that require cash payment.

Automating

The process of using technology to perform tasks without human intervention, often resulting in increased efficiency and reduced error.