Use the Following to Answer Question

question 1

Multiple Choice

Use the following to answer question:

-(Figure: Consumer and Capital Goods) Use Figure: Consumer and Capital Goods.Assume the economy's current production possibilities frontier is given by curve 1.Point Z:

• A)is unattainable,all other things unchanged.
• B)is attainable if the economy is able to reach full employment.
• C)is attainable if the quantity and/or quality of factors decreases.
• D)will be attained as soon as the economy becomes efficient and moves to curve 2.

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Definitions:

Performance Provisions

Clauses within a contract that define the standards and conditions for performance by the parties involved.

Time for Delivery

The specific period within which goods or services must be delivered as stipulated in a contract.

Reasonable Time for Inspection

A legally acceptable period allowed for a buyer to examine goods to ensure they conform to the contract terms.

Effective Acceptance

The act of agreeing to the terms of an offer in a manner that is recognized by law, thereby creating a binding contract.