A Production Point Is Said to Be Efficient If There

question 137

True/False

A production point is said to be efficient if there is no way for the economy to produce more of one good without producing less of another.

Recognize the importance of revising business messages for clarity, conciseness, and readability.

Identify examples of effective and ineffective business writing.

Apply principles of document design to enhance message readability.

Distinguish between necessary and unnecessary elements in business writing.

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Definitions:

Merchandise

Goods that are bought and sold in business, often synonymous with stock or inventory.

Fraudulent Misrepresentation

A wrongful statement, action, or concealment, pertinent to the subject matter of a contract, that is knowingly made to damage the other party.

Sales Puffery

Persuasive words or exaggerated arguments made by salespeople to induce customers to buy their product. As long as such comments are reserved to opinion and do not misstate facts, they are not actionable as fraud, even if they turn out to be grossly in error. Also called puffery.

Bait-and-Switch

A deceptive marketing strategy where a seller advertises a product at a low price to attract customers, then persuades them to buy a more expensive item.