Unilateral Mistake Is a Mistake in Which Only One Party

question 68

True/False

Unilateral mistake is a mistake in which only one party is mistaken about a material fact regarding the subject matter of a contract.

Differentiate between the reactants and products of photosynthesis.

Understand the role and types of photosynthetic pathways.

Identify the significance of specific wavelengths of light in photosynthesis.

Understand the impact of Information and Communication Technologies (ICTs) on workplace autonomy and work-life balance.

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Definitions:

Excess Capacity

The situation where a company is producing less than its full potential output due to lack of demand or other constraints.

Efficient Scale

The level of production at which a firm achieves the lowest average total cost, with economies of scale fully exploited.

Business-Stealing Externality

Negative impacts on existing firms due to entry of new competitors, which can steal customers and reduce profits.

New Firms

Companies that have recently entered the market, bringing innovation, competition, and potentially disrupting established market dynamics.