Pola Wants to Transfer a Check to Quin

question 20

Multiple Choice

Pola wants to transfer a check to Quin.The check is defective if it

• A)has been previously dishonored.
• B)has no irregularities on its face.
• C)is not overdue.
• D)is so complete that no element of negotiability is lacking.

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Definitions:

Supply Curve

A diagram indicating the correlation between the cost of a product and the volume of its supply.

Opportunity Cost

The cost of forgoing the next best alternative when making a decision or choosing to invest in one option over another.

Producer Surplus

The difference between the amount that producers are willing and able to sell a good for and the actual amount received due to a higher market price.

Producer Surplus

The divergence between the desired selling price of producers and the real price at which goods are sold.