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Suppose Hank and Tony can both produce corn. If Hank's opportunity cost of producing a bushel of corn is 2 bushels of soybeans and Tony's opportunity cost of producing a bushel of corn is 3 bushels of soybeans, then Hank has the comparative advantage in the production of corn.
Unconditional Promise
A commitment or guarantee that is not subject to any conditions or contingencies.
Time Certain
A specific, agreed-upon moment or period in which something is to occur or be completed, often used in contracts and scheduling.
Assumed Name
An assumed name, also known as a trade name or "doing business as" (DBA), is a name a business uses that is different from its legal, registered name.
Device
A piece of equipment designed for a particular purpose, often electronic in nature.
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