Under the UCC, a Merchant Is a Person Who Is

question 16

Multiple Choice

Under the UCC, a merchant is a person who is

• A) a regular dealer in the sale of goods involved in the sales contract.
• B) especially knowledgeable about goods involved in the sales contract.
• C) a commercial expert.
• D) all of these.

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Definitions:

Consumer Surplus

The difference between the total amount that consumers are willing and able to pay for a good or service and the total amount they actually do pay.

Ice Cream

A frozen dessert made from dairy products, such as milk and cream, combined with flavors and sweeteners.

Producer Surplus

The difference between what producers are willing to accept for a good or service and what they actually receive, due to market prices.

Hamburgers

A popular food item made from ground meat, typically beef, placed inside a sliced bun and often accompanied by various toppings.