The Drawee Is The

question 20

Multiple Choice

The drawee is the:

• A)person who writes the check.
• B)bank that drawer has an account with.
• C)the person to whom the check is payable.
• D)person named as the co-signer.

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Definitions:

Transitive Indifference

Transitive indifference refers to a situation in consumer preference theory where if a consumer is indifferent between goods A and B and also between goods B and C, then the consumer is equally indifferent between goods A and C.

Strict Preference

An economic term indicating a consumer's stronger liking for one option over another, with no indifference between the two.

Convex Preferences

In consumer theory, a situation where the consumer prefers an average of two goods or bundles to either one of the extremes, indicating a desire for diversified choices.

Midterm Examinations

Exams given roughly halfway through an academic term to assess students' understanding of the course material.