-Refer to Table 3-2

question 191

Multiple Choice

-Refer to Table 3-2. How could the farmer and rancher both benefit?

• A) by the farmer specializing in meat and the rancher specializing in potatoes
• B) by the farmer specializing in potatoes and the rancher specializing in meat
• C) by the farmer specializing in neither good and the rancher specializing in both goods
• D) by the farmer specializing in both goods and the rancher specializing in neither good

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Definitions:

Stop Payment

An order issued to a bank by an account holder not to pay a specific check that has been written and issued but not yet cashed.

Secondhand Car

A vehicle that has had one or more previous owners before the current possession.

Acceptor

A drawee of a draft who has promised to honor the draft as presented by signing it on its face.

Draft

A written order by which the party creating it orders another party to pay money to a third party. Also called bill of exchange.