Match Each Statement with the Correct Term Below

question 86

Multiple Choice

Match each statement with the correct term below.
-expropriation

• A)Conclusively presumed unreasonable and therefore illegal.
• B)Acquisition by one company of a competing company.
• C)Closed a loophole in the Copyright Act and clarified when Internet users can distribute copyrighted works.
• D)Plan detailing how a state will implement and maintian EPA air quality standards within its borders.
• E)An illegal form of discrimination that includes unwelcome sexual advances, requests for sexual favors, and other verbal or physical conduct of a sexual nature.
• F)Governmental taking of foreign-owned property for a public purpose with just payment.
• G)Includes any note, stock, bond, preorganization subscription, and investment contract (any investment of money or property made in expectation of receiving a financial return solely from the efforts of others).
• H)A signed writing by a shareholder authorizing a named person to vote her stock at a specified meeting of shareholders.
• I)A general invitation to all shareholders to purchase their shares at a specified price for a specified time.
• J)Not recognized by the common law or federal law, although some states have adopted statutes granting some form of this.
• K)Intentional and knowing conduct.
• L)Any credit transaction involving goods, services, or land for personal, household, or family purposes.
• M)Governs contracts for international sales of goods between parties located in different nations that have ratified the treaty.
• N)Rule that a court should not question the validity of actions taken by a foreign government in its own country.
• O)Superfund; establishes the National Contingency Plan for responding to releases of hazardous substances and a trust fund to pay for removal and cleanup of hazardous waste.
• P)Foreign country's freedom from a host country's laws.
• Q)Any business that engages in transactions involving the movement of goods, information, money, people, or services across national borders.
• R)Agreement among parties not to deal with a third party.
• S)Similar patterns of conduct among competitors.
• T)Exclusive right, usually for the author's life plus 70 years, to original works of authorship.
• U)The judicial branch of the United Nations; has voluntary jurisdiction over nations.

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Definitions:

Purely Competitive

A market structure characterized by many buyers and sellers, all of whom have little to no influence on the market price of goods and services.

Marginal Resource Cost

The additional cost incurred by a firm or economy for utilizing one more unit of a resource, used in making efficient production and resource allocation decisions.

Profit-Maximizing

The process by which a firm determines the price and output level that returns the greatest profit.

Purely Competitive

Refers to a market structure where many firms sell identical products, allowing no single firm to influence the market price.