Answer:
The correct answer is option D.
Explanation:
Specialization in the economy can be defined as the situation in which an individual or nation produces a limited variety of goods in order to increase efficiency. Specialization improves the standard of living of the people.
If an economy relies on specialization each individual will produce the goods or services that he/she specializes in or has the relatively best ability to produce.
The economy produces the good or services it has the relatively best ability to produce, it relies on trade for other goods.
The owner own the freehold estate if his or her rights in an estate cannot be determined
Explanation:
In this type the owner will not know the duration for which he or she can hold the estate and they can enjoy exclusively all the rights for an undefined length of time or period
They are of three kinds a fee simple, a fee tail, and a life estate in these type the owner can enjoy the rights for an amount of time that is not known to him and this also includes the ownership in the properties
Answer:
The correct answer is d.
Explanation:
The fallacy of composition consists in inferring that something particular is true, and that therefore it is also true about a whole, basing this only because it is true about one or more of its parts. For example, if we establish that a piece of metal can not break at high temperatures, therefore the machine of which it is part will not break at high temperatures.
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<u>Answer:</u> The rate of interest is 7.18 %
<u>Explanation:</u>
To calculate the rate of interest, we use the equation used for the interest compounded monthly follows:
A = Amount after time period 'T' = $100,000
P = Principal amount = $50,000
R = rate of interest = ?
n = Number of times interest applied per time period = 1 (annually)
T = time period = 10 years
Putting values in above equation, we get:
Calculating the rate of interest in percentage:
Hence, the rate of interest is 7.18 %
