Explain How It Is Possible for a Country to Consume

question 48

Essay

Explain how it is possible for a country to consume a greater quantity of goods and services than it is actually capable of producing.

---

Definitions:

Additional Terms

Extra conditions or provisions added to an agreement or contract that were not included in the original draft.

Acceptance

In contract law, the unconditional agreement to the terms of an offer, which creates a binding contract.

UCC

The Uniform Commercial Code consists of regulations that oversee business dealings within the United States.

Mirror Image Rule

A principle in contract law stating that an offer must be accepted exactly without modifications for a contract to be formed.