About How Many Individuals Are Self-Employed in the United States

question 34

Multiple Choice

About how many individuals are self-employed in the United States currently?

• A) more then 20 million.
• B) less then 5 million.
• C) more then 10 million.
• D) approximately 45,000.
• E) 1,000.

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Definitions:

Cover

In the context of contracts, the act of seeking a substitute fulfillment of a contract, for example, purchasing goods from a different supplier if the original supplier fails to perform.

UCC

The Uniform Commercial Code, a comprehensive set of laws governing commercial transactions in the United States, aimed at harmonizing the law of sales and other commercial transactions across state lines.

2-712

Pertains to the Uniform Commercial Code (UCC), specifically the section regarding "Cover" and the buyer's right to procure substitute goods.

Liquidated Damages

A predetermined sum agreed upon in a contract, to be paid as compensation if one party breaches the agreement.