Which Statements Are TRUE

question 16

Multiple Choice

Which statements are TRUE?
I. Free markets work to best utilize limited resources to satisfy limited wants.
II. Prices signal the value of resources to consumers and suppliers.
III. Prices reflect information.

• A) I and II only
• B) III only
• C) II and III only
• D) I, II, and III

Understand the impact of fundamental breach on the applicability of exemption clauses.

Comprehend the legal principles surrounding the termination of contracts, including repudiation and frustration.

Describe the process and legal requirements for novation and the substitution of parties in a contract.

Outline the remedies available for breach of contract, including specific performance, damages, and the principle of mitigation.

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Definitions:

Interpersonal Job Resources

Social and relational aspects of work that can help employees perform their jobs effectively, mitigate job demands, and stimulate personal growth or development.

Structural Job Resources

Components or aspects of a job that help employees achieve work goals, reduce job demands, and stimulate personal growth and development.

Structural Job Resources

Elements within a job or workplace environment that facilitate effective performance and employee engagement.

Experienced Responsibility

The feeling of personal accountability an individual has for their task performance or work outcomes.