Simon's Relatives Come to Visit Him and Want Him to Show

question 103

Multiple Choice

Simon's relatives come to visit him and want him to show them around the town.Linda helps Simon by lending him her car for a week.This is an example of a(n) :

• A) bailment for the sole benefit of the bailor.
• B) easement by prescription.
• C) bailment for the sole benefit of the bailee.
• D) bailment for the mutual benefit of the parties.
• E) easement by necessity.

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Definitions:

Production Possibilities

The various combinations of goods and services that an economy can produce when all its resources are fully and efficiently employed, illustrated by the production possibilities frontier.

Capital Goods

Assets utilized by businesses to create wealth through the manufacturing of goods and services, including buildings and tools.

Opportunity Cost

The sacrifice of potential rewards from different possibilities upon opting for one alternative.

Production Possibilities Curve

A graphical representation showing the maximum combination of goods or services that can be produced with given resources and technology.