Nominal Damages Are Awarded in Contract Cases in Which a Damage

question 33

True/False

Nominal damages are awarded in contract cases in which a damage amount was named in the contract.

---

Definitions:

Unit of Production

A single complete item or a specified amount of a commodity produced.

Positive Externality

An economic situation where a third party benefits from a transaction or activity they are not directly involved in.

Negative Externality

A cost suffered by a third party due to an economic transaction or activity, without compensation, such as pollution from a factory affecting nearby residents.

Public Goods

Goods that are non-excludable and non-rivalrous, meaning that one person's consumption does not reduce the availability to others, and it's hard to prevent people from using them.