enforceable, legality
For a contract to be enforceable it must meet the requirement of legality and both the subject matter and the performance of the contract must be legal
An agreement to be a contract must establish a duty that is enforceable by law by the provisions of contract laws. Any arrangement that does not provide for enforceability—that is, one in which the parties cannot seek redress in court for breach of the agreement s not a contract. To create legality in a relationship, the contract must have intent. It happens when the parties are aware that each of them is responsible for the contract's failure if they fail to keep their part of the contract.
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Answer:
Terrence plan to produce = 39,600 units
Explanation:
The production budgeted for a particular period is the expected units to be produced after adjusting the sales budget figures for opening and closing inventories.
Production budget = opening inventory + sales budget - closing inventory
=40,000 +2300 -2700= 39,600
Terrence plan to produce = 39,600 units
Answer: b. unemployment rises but it would have risen by less if the Bank of Mokania had reduced inflation to 5% rather than 3%
Explanation:
There exists and inverse relationship between the unemployment rate and the inflation rate with the logic being that higher inflation means that the economy is doing better and people have more jobs and are demanding more goods and services hence the inflation.
If the inflation drops more than people were expecting it to therefore, unemployment would rise. As mentioned above, inflation and unemployment are negatively correlated so the more the fall in inflation, the higher the unemployment rate.
A fall in inflation to 3% would therefore mean a higher rise in employment than a fall in inflation to 5% which is less of a fall and so will lead to a smaller rise in unemployment.
