-Based on the Information in Table 35

question 23

Multiple Choice

-Based on the information in Table 35.1,assume China and the United States have the same amount of resources with which to produce soybeans and computers and they produce no other goods.For trade to be mutually beneficial for both countries,the terms of trade will be such that 1 computer will exchange for

• A)More than 3 tons of soybeans but less than 5.
• B)More than 1/5 of a ton of soybeans but less than 1/3.
• C)Less than 1/5 of a ton of soybeans.

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Definitions:

UCC

The Uniform Commercial Code, a standardized set of laws and regulations designed to facilitate commercial transactions and harmonize business law across the U.S.

Section 2-207

Refers to a provision in the Uniform Commercial Code dealing with the acceptance of an offer and the terms of contracts.

Taking Advantage

Taking advantage refers to the act of using a situation or person's condition to gain a benefit, often in an unethical or unfair manner.

Insufficient Postage

Occurs when an item of mail does not have enough postage attached to cover the required fee for delivery.