Table 3-3 -Refer to Table 3-3

question 122

Multiple Choice

Table 3-3
$\begin{array}{|l|c|c|c|c|}\hline&\text { Hours needed to make one unit of: }&&\text { Amount produced in } 2400 \text { hours: }\\\hline & \text { Cars } & \text { Aeroplanes } & \text { Cars } & \text { Aeroplanes } \\\hline \text { US } & 40 & 160 & 60 & 15 \\\hline \text { Europe } & 50 & 150 & 48 & 16 \\\hline\end{array}$
-Refer to Table 3-3.The opportunity cost of one aeroplane for the US is:

• A)four cars
• B)three cars
• C)1/3 car
• D)1/4 car

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Definitions:

Remedies

Legal means for enforcing a right or redressing a wrong, including compensation, injunctions, and specific performance.

UCC

Uniform Commercial Code, a set of laws that provide legal rules and regulations governing commercial or business dealings and transactions in the United States.

Shipment Contract

A contract where the seller is required to send the goods to the buyer, but the title to the goods passes when the seller fulfills their obligation to ship.

Carrier

An entity that provides transportation services for goods or individuals.