One of the Elements of a Bailment Is

question 62

Multiple Choice

One of the elements of a bailment is

• A)tangible , not intangible , items.
• B)non-exclusive possession of the bailed property by the bailee.
• C)an agreement for the return or disposal of the bailed property.
• D)conversion of the bailed property by the bailee.

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Definitions:

Productive Efficiency

A situation where the economy or an enterprise is producing goods and services at the lowest possible cost.

Maximum Possible Output

Refers to the highest level of production an economy can sustain over a period without increasing inflation, often determined by available resources and technology.

Productive Efficiency

A situation in which an economy or entity is operating in such a way that it cannot produce more of one good without producing less of another.

U.S. Economy

The economic system of the United States, characterized by private enterprise, a variety of industries, and is considered one of the largest and most influential economies in the world.