Which Situation Would MOST Likely Lead to an Import of Copper

question 265

Multiple Choice

Which situation would MOST likely lead to an import of copper into a certain country?

• A) a tariff placed on copper
• B) an absolute disadvantage in the production of copper compared to other nations
• C) an absolute advantage in the production of copper by other nations
• D) a comparative advantage in the production of copper by other nations

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Definitions:

Actual Authority

The express and implied powers granted by a principal to an agent to enter into contracts or make decisions on behalf of the principal.

Apparent Authority

A doctrine in law where a principal leads a third party to believe that an agent has the authority to act on the principal's behalf, even if the agent doesn't have actual authority.

Agency Contract

A legal agreement wherein one party (the agent) agrees to act on behalf of another party (the principal) in a business transaction or other matter.

Third Party

An individual or group not directly involved in a contract or legal transaction but could be affected by its outcome.