A State of __________ Exists Whenever the Ratio of One

question 22

Short Answer

A state of __________ exists whenever the ratio of one person's outcomes to inputs equals the ratio of another's outcomes to inputs.

---

Definitions:

Indorsed in Blank

A signature on a negotiable instrument, such as a check or promissory note, without specifying a new owner, making it payable to the bearer.

Payable

Refers to an amount of money that is owed and should be paid, typically within a specific time frame.

Assignee

The individual or entity to whom rights or property are legally transferred.

Negotiable Instrument

A written document guaranteeing the payment of a specific amount of money, either on demand or at a set time, with the payer name either mentioned or implied.