Which of the Following Statements Is True Regarding Merchants Under

question 40

Multiple Choice

Which of the following statements is true regarding merchants under the UCC?

• A)The UCC has different rules for transactions involving merchants and transactions involving non-merchants,and merchants are generally held to a high standard of care and behavior than non-merchants.
• B)The UCC has different rules for transactions involving merchants and transactions involving non-merchants,however merchants and non-merchants are generally held to the same standard of care and behavior.
• C)Under the UCC,merchants and non-merchants are sometimes treated differently,however,they are both held to the same standard of care and behavior.
• D)Although the UCC applies the same rules for transactions involving merchants and transactions involving non-merchants,merchants are generally held to a high standard of care and behavior than non-merchants.
• E)There is no distinction between merchants and non-merchants under the UCC.

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Definitions:

Incentives

Motivations or rewards designed to engender specific behaviors or actions in economic agents.

Samaritan's Dilemma

The Samaritan's Dilemma describes a situation where the act of helping others discourages them from helping themselves, potentially leading to dependency or reduced effort.

Transfer Programs

Government initiatives designed to redistribute income through taxation and social spending to support the needy, promote social equity, and reduce poverty.

Perpetuate Poverty

The continued existence of poverty due to systemic and structural factors that fail to be addressed or resolved.