Frank and Green Agri-Ship,Inc

question 61

Multiple Choice

Frank and Green Agri-Ship,Inc. ,enter into a contract under which Frank agrees to pay Green to transport the soybeans in Frank's bins.When Green's schedule conflicts,Green contacts Hybrid Crop Transport Company and "assigns all rights under the contract" to Hybrid.This transfer normally is construed as

• A)an assignment and a delegation.
• B)an assignment only.
• C)a delegation only.
• D)neither an assignment nor a delegation.

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Definitions:

Opportunity Cost

The cost of foregone alternatives when one option is chosen over another.

Coffee

A popular beverage made from roasted and ground beans of the Coffea plant, consumed worldwide for its stimulating effects.

Production Possibility Frontier

A diagram that maps out all possible highest outputs for two commodities, given a predetermined set of inputs and technology.

Specialize

The process by which individuals or entities focus their efforts on a limited range of activities, goods, or services to gain efficiencies and improve performance or output.