The court hearing the case may determine whether Lamont is a merchant by assessing whether Lamont:
1. Employed in the deal with Ted others who have the status of a merchants.
2. Is a person who deals in shoes.
3. Is a person who by occupation hold himself out as having knowledge or skills unique to the shoes involved in the transaction.
Before Lamont can be subjected to special business standard in court, it must be confirmed whether he is truly a business man as he claimed and the steps above are the ones that will be looked into to confirm his status as a business man.<span />
Answer: $3500
Explanation:
In the general rule section 117(d)(1), it should be noted that when calculating the gross income, the reduction in tuition isn't included.
Based on the above reasoning, Graham's gross income will not include the $5,000 tuition reduction that was offered by the chemistry department.
Therefore, the amount that Graham must include in his gross income will be $3500.
The purpose of a good web page design is to make it successful and admirable
Answer:
A) rational self-interest because he is attempting to increase his own income by identifying and satisfying someone else's wants.
Explanation:
One of economics basic premises is that human beings are rational and act on self interest. That describes both the behavior of consumers who will always try to maximize their benefits at the lowest possible cost, and entrepreneurs like Alex who will try to increase their wealth by identifying and satisfying other people's needs and wants.
Answer: Production possibility frontier (PPF).
Explanation: PPF is curve on a graph which depicts the situation which you have asked in a question. For your ease i will upload a picture of that curve so that you can understand the answer better. For better understanding the graph below uses the example of Cotton as a good.
