(PReflective Thinking)Two Merchants Agree to a Sale of Goods to Be

question 32

Multiple Choice

(p.Reflective Thinking) Two merchants agree to a sale of goods to be shipped by boat from Maine to Florida.No other shipping terms are indicated.If the boat sinks during the trip and all the goods are destroyed:

• A) the buyer may sue the seller, but not the carrier for their loss.
• B) the seller may sue the carrier because the seller maintained risk of loss and the right to sue for losses.
• C) the buyer may sue both the seller and the carrier for their loss.
• D) the buyer may sue the carrier, but not the seller for their loss

Recognize the impact of price mechanisms and discounts on consumer behavior in a free market.

Understand the principle of egalitarianism and its economic implications.

Understand the concepts of different market structures, including pure competition, monopolistic competition, oligopoly, and monopoly.

Recognize the symptoms and causes of economic depression and inflation.

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Definitions:

Cheating

The act of acting dishonestly or unfairly in order to gain an advantage, especially in academic settings or competitive situations.

Tax Bites

Informal term referring to the impact or amount of taxes taken from one's income or profits.

Labor Costs

The total expenses incurred by employers for the compensation of their workforce, including wages, salaries, and benefits.

Predictor

A variable or factor used to forecast future trends or outcomes.