When an Endorsement Is Made on the Instrument, It Can

question 43

Multiple Choice

When an endorsement is made on the instrument, it can be further negotiated only when it has been indorsed by the specified person. Such an endorsement is a:

• A) specific endorsement.
• B) definite endorsement.
• C) declarative endorsement.
• D) special endorsement.

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Definitions:

Indifference Curves

Graphical representations in economics to show combinations of two goods among which a consumer is indifferent in preference.

Budget Constraints

The limitations on the consumption choices of individuals or households based on their income and the prices of goods and services.

Optimum

The best or most favorable point, level, or condition, especially in terms of efficiency or success.

Indifference Curves

Graphical representations of different combinations of two goods between which a consumer is indifferent, showing preferences regarding consumption.