Explain How It Is Possible for a Diversity of Potential

question 61

Essay

Explain how it is possible for a diversity of potential competitors to coexist in the same community, despite the competitive exclusion principle.

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Definitions:

Proper Presentment

The correct or formal presentation of a document for acceptance or payment, such as a check.

Accommodation Party

is an individual who signs a negotiable instrument on behalf of another party, guaranteeing payment without receiving personal benefit.

Maker

A person who has promised to pay a set sum to the holder of a promissory note or certificate of deposit.

Drawer

The person who writes or issues a bill of exchange, cheque, or draft, instructing a drawee to pay a specified sum to a payee.