Under the ________ System,the Subcontractors or Materialmen Have Direct Liens

question 81

Multiple Choice

Under the ________ system,the subcontractors or materialmen have direct liens and are entitled to liens for the value of labor and materials furnished,irrespective of the amount due from the owner to the contractor.

• A)strict foreclosure
• B)New York
• C)conditional foreclosure
• D)Pennsylvania

---

Definitions:

Variable Costs

Expenses that change in proportion to the activity of a business such as costs for raw materials or production labor.

Snow-clearing

The process of removing snow and ice from outdoor surfaces, primarily roads and pavements, to ensure safe passage for vehicles and pedestrians.

Perfectly Competitive

A market structure characterized by a large number of small firms, identical products sold by all firms, no barriers to entry or exit, and perfect information among buyers and sellers.

Marginal Cost

It refers to the cost change associated with producing an extra unit of a good or service, important in economic decision-making.