An Alleged Principal Becomes a Real Principal By

question 250

Multiple Choice

An alleged principal becomes a real principal by:

• A) ratifying the agreement
• B) refusing to ratify the agreement
• C) suing the alleged agent
• D) signing the power of attorney
• E) signing a contract

---

Definitions:

Workbook Problems

Exercises or assignments found in a workbook designed to practice or assess understanding of a subject or topic.

Comparative Advantage

An economic theory that explains how and why it benefits countries to specialize in producing goods in which they have a lower opportunity cost and to trade with others.

Constant Returns to Scale

A situation in production where increasing all inputs by a certain factor results in output increasing by the same factor.

Competitive Equilibrium

A market state where supply equals demand, resulting in an efficient distribution of goods and services without excess.