Which of the Following Is NOT an Example of an Externality

question 55

Multiple Choice

Which of the following is NOT an example of an externality?

• A)The development of a vaccine for preventing SARS.
• B)Gas prices that rise in the summer due to increased vacation travel.
• C)Shipbreaking that industrial nations have exported to less developed countries.
• D)A factory that dumps dangerous chemicals into Lake Erie.

Explain the significance of good faith and reasonable pricing in the context of obtaining cover for substitute goods.

Understand the concept of "cover" under the UCC and its application to buyer's rights.

Comprehend the limitations on consequential damages outlined in the UCC, including those for commercial losses and personal injuries.

Identify the statute of limitations for actions under the UCC and its flexibility.

---

Definitions:

Cash Control Sheet

A financial document used to track the inflow and outflow of cash within a business to ensure accurate accounting and prevent fraud.

Pegboard System

An organizational tool consisting of a board with holes that can hold pegs or hooks for the purpose of hanging or displaying items.

Trial Balance

An accounting report that lists the balances of all ledgers accounts to check the arithmetic accuracy of bookkeeping entries.

Double-Entry Bookkeeping System

An accounting method that records each transaction in two accounts, debit and credit, to ensure the books are always balanced.