Wilson Buys a Promissory Note from Oli

question 30

Multiple Choice

Wilson buys a promissory note from Oli.The note is due on December 5.December 5 is a Sunday.The note is

• A)payable anytime the week of December 6.
• B)payable December 6.
• C)payable on December 5 only.
• D)defective.

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Definitions:

Labor-Intensive

Describing a process or industry that requires a large amount of labor to produce goods or services compared to the amount of capital used.

Labor-Abundant

Referring to a country or region that has a large supply of labor relative to capital.

Comparative Advantage

The ability of an entity to produce a good or service at a lower opportunity cost than others, leading to more efficient trade possibilities.

Labor-Intensive

Characterized by a high proportion of labor relative to capital in the production process.