Why is it that the enforcement of contracts by government is so crucial to the conduct of business?
What will be an ideal response?
Without recourse to the law when a contract is breached, contracts will not be entered into, goods will not be manufactured, and services will not be provided.
Economics
You might also like to view...
A larger labor force will allow the economy to produce more total output
Indicate whether the statement is true or false
Economics
A bank can only loan out its excess reserves
Indicate whether the statement is true or false
Economics
If the exchange rate is such that $1 equals 10 Mexican pesos, then the price of a peso is
A) $10. B) $1. C) $0.20. D) $0.10.
Economics
Iron is required to make steel. Hence, the price elasticity of demand for iron by steel manufacturers will be
A) unit elastic. B) inelastic. C) elastic. D) perfectly elastic.
Economics