In Just a Few Short Weeks, Jon Would Arrive Back

question 235

Multiple Choice

In just a few short weeks, Jon would arrive back in the states after a semester abroad. He was already in a temp agency's database from the previous summer, when he spent 8 weeks working for an accounting firm. Jon will again try to hire on as a ________ during the summer months. The company that hired him last summer typically hires several college students each year, mainly because they have good computer skills, and the company does not need to offer college students benefits.

• A) contingent worker
• B) intermediate worker
• C) primary worker
• D) apprentice

Grasp the concept of the perfect tender rule in the context of lease and sales contracts.

Understand the requirements for a seller or lessor when goods are defective or nonconforming.

Know the conditions under which limitations of damages for buyers or lessees might be unconscionable.

Recognize the necessity of commencing an action for breach of contract within a specific time frame under the UCC.

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Definitions:

Consumer Surplus

The gap between what consumers are ready and can afford to pay for a product or service, versus what they actually spend.

Producer Surplus

The difference between the amount that a producer is paid for a good or service and the minimum amount they are willing to accept for it.

Marginal Revenue

The additional income derived from the sale of one more unit of a good or service.

Monopsonist Purchase

The buying activities of a market condition where only one buyer exists, affecting prices and quantities of goods.