The Bowed Shape of the Production Possibilities Frontier Can Be

question 115

Multiple Choice

The bowed shape of the production possibilities frontier can be explained by the fact that

• A)all resources are scarce.
• B)economic growth is always occurring.
• C)the opportunity cost of one good in terms of the other depends on how much of each good the economy is producing.
• D)the only way to get more of one good is to get less of the other.

Describe conditions under which an implied warranty of fitness for a particular purpose arises.

Determine the damages recoverable by a seller or lessor upon a buyer's or lessee's breach of contract including resell or lease to another party.

Define and distinguish "course of dealing" and "course of performance" and their impact on contract enforcement under the perfect tender rule.

List the remedies available to a buyer or lessee when a seller or lessor is in breach of contract.

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Definitions:

Cartilage Structures

Tissues in the body that provide flexible support and cushioning in joints, made up of cells embedded in a strong, rubbery matrix.

Vocal Cords

Bands of muscle tissue found in the larynx, essential for producing voice by vibrating as air passes through.

Pitch

The frequency of vibrations of sound that enable one to classify sound on a scale from high to low.

Windpipe

The windpipe, also known as the trachea, is the air passage that leads from the larynx (voice box) to the bronchi, which are the major airways leading into the lungs.