Explain the difference between merchant and agent intermediaries.
What will be an ideal response?
Merchant intermediaries buy goods outright and take title to the product. Agent intermediaries, on the other hand, negotiate purchases, sales, or both but do not take title to the goods involved. They perform a variety of physical distribution, transaction and communication, and facilitating functions that make exchange possible.
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The process in which the government takes over private business assets while paying little or no compensation to the owners themselves is called
What will be an ideal response?
Mark Perez signs a standard form guarantee for a $60,000 loan his brother Fred gets from a bank. Fred later incurs a credit card debt to the Bank for a further $4,500
Fred also later guarantees a loan of $5,000 from the bank to his wife, who goes bankrupt. Fred pays back $30,000 on his loan and then goes bankrupt. For what principal amount is Mark liable as a result of the guarantee? A) $30,000 B) $34,500 C) $35,000 D) $39,500 E) $48,000
Jane takes her car to Joe's Garage, leaving it there for repairs. Ted, one of Joe's employees, takes
the car for a joy ride, without Joe's permission. In fact, Joe has a very strict rule that his employees cannot drive customers' cars except to diagnose or test them. Ted crashes into another car, driven by Mary. Mary is injured and sues Jane, Ted, and Joe. Which of the following is true? A) Only Ted is liable B) Only Joe is liable C) Only Ted and Joe are liable D) Jane, Ted, and Joe are all liable E) Only Jane and Ted are liable
To help further the goal of water pollution reduction, states must do what regarding point source pollution:
a. permit treated water to be used as drinking water to be "commercially" pure b. reduce it by 60 percent by 2008 c. keep water designated as recreational water quite pure d. do nothing, the federal government controls all facets water pollution control e. none of the other choices