If a Minor Fails to Disaffirm a Contract Within a Reasonable

question 50

Multiple Choice

If a minor fails to disaffirm a contract within a reasonable time after reaching majority,the minor is said to ______ the contract.

• A) transcend
• B) terminate
• C) rescind
• D) ratify
• E) breach

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Definitions:

Bowed Shape

A term describing the concave shape of the Production Possibilities Frontier (PPF), highlighting increasing opportunity costs as production shifts from one good to another.

Diminishing Returns to Scale

A situation where, after a certain point, additional inputs result in less proportional increases in output.

Technological Change

The introduction of new technologies and methods that increase productivity and may lead to economic growth and changes in how industries operate.

Labor Productivity

An indicator of economic efficiency that evaluates the quantity of goods and services generated relative to the hours of labor required to produce them.