In a Two-Country, Two-Product World, the Statement "Germany Enjoys a Comparative

question 45

Multiple Choice

In a two-country, two-product world, the statement "Germany enjoys a comparative advantage over France in autos relative to ships" is equivalent to

• A) France having a comparative advantage over Germany in ships.
• B) France having a comparative disadvantage compared to Germany in autos and ships.
• C) Germany having a comparative advantage over France in autos and ships.
• D) France having no comparative advantage over Germany.
• E) France should produce autos.

Comprehend the concept of insurable interest and risk of loss in goods transactions.

Grasp the principles of sales under the Uniform Commercial Code (UCC), including special rules for sales by minors and bulk sales.

Identify and differentiate between various types of sales and their specific legal consequences (e.g., sale on approval, sale or return).

Understand the concept of good faith in sales transactions and the UCC's definition of it.