Which of the Following Is Not One of the Grades

question 9

Multiple Choice

Which of the following is not one of the grades of title with which a person may be registered? What characterises the other three grades of title?

• A) Absolute title
• B) Proper title
• C) Good leasehold title
• D) Possessory title

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Definitions:

Diseconomies of Scale

The situation in which a business grows so large that the costs per unit increase, as opposed to economies of scale where costs per unit decrease with the increase in output.

Long-Run Average Cost Curve

A graphical representation that shows the minimum average cost at which any output level can be produced after all inputs are adjustable. It reflects economies and diseconomies of scale.

Economies of Scale

Cost advantages that enterprises obtain due to their scale of operation, leading to a reduced cost per unit of output.

Search Engine

A software system designed to search for information on the World Wide Web.