A Contractual Condition of Satisfaction May Be Judged by Either

question 70

Multiple Choice

A contractual condition of satisfaction may be judged by either a[n] ________ or ________ standard.

• A)Objective;absolute
• B)Objective;subjective
• C)Subjective;express
• D)Objective;express
• E)Absolute;express

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Definitions:

Productive Advantage

A situation where a person or entity can produce goods or services at a lower opportunity cost than others.

Opportunity Cost

The cost of forgoing the next best alternative when making a decision, representing the benefits one misses out on when choosing one option over another.

Bushel

A unit of volume that is used in the United States for measuring agricultural commodities, usually grains.

Bananas

A long, curved fruit with soft, pulpy flesh and yellow skin when ripe, commonly eaten as a staple food or snack.