Abigail was shopping in an antique store and was drawn to what appeared to be an antique plate. The antique dealer said the plate was created in the 1800s in England. In reality, the plate was made in China in 2000. The plate was stamped with this information on the bottom. Abigail bought the plate, but then later sued for fraudulent misrepresentation. The court will not rescind the contract because Abigail did not have justifiable reliance since she could have easily discovered the falsity of the seller's claims.The court believe that Abigail should had checked the item properly before she purchase the antique since the maker of that product had provided the necessary information needed and ignorance will not be an excuse.
In economics, a circular flow model is a diagram that is used to represent the monetary transactions in an economy.
National income, output, and expenditure are generated by the activities of the two most vital parts of an economy, its households and firms, as they engage in mutually beneficial exchange.
Households
The primary economic function of households is to supply domestic firms with needed factors of production - land, human capital, real capital and enterprise. The factors are supplied by factor owners in return for a reward. Land is supplied by landowners, human capital by labor, real capital by capital owners (capitalists) and enterprise is provided by entrepreneurs.<span> Entrepreneurs combine the other three factors, and bear the risks associated with production.</span>
<span>We know what happened during the Paleolithic Age because of Archaeologists and </span>
It had been known that American Indians were discovered by a Portuguese conqueror Christopher Columbus. While it was an honor being discovered, it curtailed exchanges of values and traditions where most of the parties weren't that happy. There were lots of disagreement and even fighting.
He won it November 6, 1860