Figure 9-20 The Figure Illustrates the Market for Rice in Vietnam

question 275

Multiple Choice

Figure 9-20
The figure illustrates the market for rice in Vietnam.
-Refer to Figure 9-20.Given that Vietnam is a small country,it is apparent from the figure that

• A)Vietnam will export rice if trade is allowed.
• B)Vietnam will import rice if trade is allowed.
• C)Vietnam has nothing to gain either by importing or exporting rice.
• D)the world price will fall if Vietnam begins to allow its citizens to trade with other countries.

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Definitions:

Section 402A

A part of the Restatement (Second) of Torts, introducing the concept of strict liability for producing and selling defective products that cause harm to the consumer.

Shrinkwrap Packaging

A method of packaging where a product is covered with a clear, tight-fitting plastic cover, often used for software boxes and other packaged goods.

Limitation of Remedies Clause

A contract provision that restricts the types of remedies available to the parties in case of breach, often to mitigate liability.

Unconscionable

Actions or conditions that are shockingly unfair or unjust; often referring to terms in contracts that are so one-sided that they are oppressive or unfairly penalize one party.