Examlex

Solved

The Quantity of Goods and Services That Can Be Produced

question 52

Multiple Choice

The quantity of goods and services that can be produced by one worker or by one hour of work is referred to as


Definitions:

Tender Of Delivery

A requirement that a seller/lessor have and hold conforming goods at the disposal of the buyer/lessee and give the buyer/lessee reasonable notification to enable him or her to take delivery.

Risk Of Loss

A provision in contracts determining who bears the risk for damage to goods after purchase but before delivery.

Indemnification

A financial agreement in which one party agrees to cover the losses or damages incurred by another.

Entrustment

The transfer of goods to a merchant who ordinarily deals in that type of goods. If the merchant subsequently sells them to a good-faith third-party purchaser, the buyer acquires good title to the goods.

Related Questions