When a Tenant Attaches Personal Property to Leased Premises for the Purpose

question 46

Multiple Choice

When a tenant attaches personal property to leased premises for the purpose of carrying on his or her business, it is called a(n) _____ fixture.

• A) domestic
• B) agricultural
• C) trade
• D) ornamental

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Definitions:

Indifference Curves

graphical representations in microeconomics illustrating combinations of goods that provide an individual with the same level of satisfaction.

Budget Constraint

A economic term that represents the limitations on the consumption choices of individuals based on their income and the prices of goods and services.

Tomatoes and Nectarines

Examples of perishable goods often used in discussions about agriculture and consumer choice.

Marginal Utility

The extra satisfaction or utility that an individual gains from consuming an additional unit of a good or service.