Which of the Following Is an Assumption Usually Made About

question 12

Multiple Choice

Which of the following is an assumption usually made about markets and market participants by economists?

• A)Market participants are interested in maximizing social welfare.
• B)Market participants are generally altruistic.
• C)Market participants engage in irrational behavior.
• D)Market participants confront scarce resources.

Recognize the significance of representation and personal liability in transactions involving negotiable instruments.

Understand the implications of altered or forged negotiable instruments and the protections available to holders in due course.

Know the legal responsibilities of accommodation parties and their liability.

Identify the difference between transfer warranties and presentment warranties.

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Definitions:

Ordering Quantity

If this term refers to "Economic Order Quantity," it is a decision tool used in supply chain management to determine the optimal order size that minimizes total inventory costs.

Inventory Value

Inventory Value is the total cost associated with the goods and materials held by a company to produce or sell for profit.

Clothiers

Businesses or individuals specializing in the selling of clothing.

Discount

A discount represents a reduction from the full price or value of goods, services, financial instruments, or the present value of future cash flows.