Sam is flying to Rio de Janeiro, Brazil, to meet with a prospective customer. He wants to learn the ethical standards, degree of formality, and gender biases of the country. Which of the following types of information will help Sam to accomplish his task?
A. demographic
B. political and legal
C. economic
D. business environment
E. geography
Answer: D
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Which of the following statements is true of the duty of compensation?
A) It does not permit an agent to be paid on a contingency fee basis. B) If the parties in an agency cannot agree on the amount, courts will usually award the compensation claimed by one of the parties. C) It requires a principal to compensate an agent for any losses incurred when the agent is acting on behalf of the principal. D) It requires a principal to compensate an agent for services rendered even in the absence of a written agreement.
A breach by the buyer will shift the risk of loss to the buyer as soon as the breach occurs if the
risk has not already shifted. Indicate whether the statement is true or false
Greg has been in the business of selling collectible figurines for twenty years. Margaret agreed to buy a set if Greg would also bring her a display case for them. Greg bought one and sold it to Margaret along with the figurines. While placing the figurines in the display case, she ran her hand over the back edge of one of its shelves and cut herself severely. The wood was not finished on that
side and nails were protruding through the shelf. Can Margaret sue Greg under strict liability? a. Yes, because the display case was in an unreasonably dangerous condition. b. Yes, because the display case was defective. c. No, because she was not a true consumer under Sec. 402A. d. No, because Greg is not a seller under Sec. 402A.
Which of the following is not true of artificial variables?
A) They have no meaning in a physical sense-nothing more than a computational tool. B) In all linear programs, they appear in the objective function with a very low cost ($M). C) They are usually used with ? constraints. D) They are usually used with = constraints. E) None of the above