Employers Company Draws a Check Payable to Felipe

question 72

Multiple Choice

Employers Company draws a check payable to Felipe. Felipe indorses the back and negotiates the check to Guarantors Bank. Primarily liable on the check is

• A)Employers Company.
• B)Felipe.
• C)Guarantors Bank.
• D)none of the choices.

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Definitions:

Consumer Surplus

The discrepancy in the total spend consumers are willing to shoulder for a product or service as opposed to what they actually disburse.

Market Price

The present value at which a service or asset is available for purchase or sale in a market.

Consumer Surplus

The gap in the total financial commitment consumers are ready to make for a product or service versus their actual commitment.

Hockey Tickets

Specific goods in the form of admission to watch a hockey game, demonstrating concepts of supply, demand, and pricing in a market.