Which of the Following Is an Example of an Agency

question 45

Multiple Choice

Which of the following is an example of an agency created by necessity?

• A)Adam is entrusted with Peter's property and finds it necessary to do something with it in order to preserve it.
• B)Peter retrospectively affirms the authority of Adam.
• C)Adam and Peter become partners in a partnership.
• D)Peter appoints Adam under a general power of attorney to carry out a particular transaction on his behalf.

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Definitions:

Productivity

measures the efficiency of production, often quantified as the ratio of outputs produced to inputs used in the production process.

Increased Outputs

indicate a higher level of production or activities, often resulting from efficiency improvements or higher demand.

Constant Amount

A fixed value that does not change over time or under varying circumstances.

Socialism

Socialism is a political and economic theory advocating for collective or governmental ownership and administration of the means of production and distribution of goods.