In Attempting to Answer the WHAT Question,a Society Seeks To

question 53

Multiple Choice

In attempting to answer the WHAT question,a society seeks to:

• A) Produce the optimal mix of output.
• B) Exploit its workers in order to produce more output.
• C) Produce more military goods so that the citizens will be safe.
• D) Distribute an equal amount of goods to all citizens.

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Definitions:

Caveat Emptor

“Let the buyer beware”; a principle that the purchaser must examine, judge, and test for herself.

Sale of Goods Act

A UK law enacted in 1979 which regulates the sale of goods that are bought and sold in the UK and the contractual rights and obligations of buyers and sellers.

Contractual Terms

The specific provisions, requirements, and clauses that are agreed upon by the parties forming the binding agreement of a contract.

Sale of Goods Act

A set of laws regulating the sale of goods that ensures rights, responsibilities, and protections for both buyer and seller.