Which of the Following Statements Is True Regarding an Agent

question 22

Multiple Choice

Which of the following statements is true regarding an agent?

• A) An agent must have capacity to contract.
• B) An agency relationship is always created by the words or actions (or lack of action) of the agent.
• C) An agent may not act contrary to or without the principal's consent.
• D) The fact that a person acts on behalf of another makes him an agent even without the appointment by the principal.

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Definitions:

Marginal Product

The supplementary yield that comes from the utilization of an extra unit of a given input, with all other inputs remaining fixed.

Number of Workers

The total count of individuals currently employed or available for employment in a specific labor market.

Daily Output

The total quantity of goods or services produced by a firm or an economy in a single day.

Bouquets

Arrangements of flowers that are typically presented as gifts or used for decoration.