The Intuitive Appeal of the Skills Approach Is

question 11

Multiple Choice

The intuitive appeal of the skills approach is

• A) Because it is available to everyone
• B) Because skills can be learned
• C) Because we can identify with the leader
• D) Because skills transform followers

Understand the distinction between common law and the UCC in governing contracts.

Grasp the structure and division of the UCC.

Recognize the role of state laws in the application and modification of the UCC for sales and lease contracts.

Identify the characteristics and legal implications of mixed motive contracts.

---

Definitions:

Legal Tender

Any form of currency that by law must be accepted by creditors (lenders) for the settlement of a financial debt; a nation’s official currency is legal tender within its own borders.

Political Candidates

Individuals who run for office in governmental elections, seeking to hold a position within a government body.

Consumer Sovereignty

The theory that consumer preferences determine the production of goods and services, making consumers the driving force of the economy.

Fundamental Economic Question

The basic inquiries regarding how a society decides on the allocation of scarce resources to satisfy unlimited wants.