What is the 'contra proferentem' rule?
Define money laundering.
What is placement?
What are the two most important grounds for compulsory liquidation?
Name two advantages of administration.
Name three common effects of liquidations.
题目
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Chapter5Contentofcontracts
In deciding what an exclusion clause means, the courts interpret any ambiguity against the person at fault who relies on the exclusion.
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- The supply curve of a firm operating in a competitive market is itsAMarginal cost curve above the average variable cost curve BMarginal cost curve above the average total cost curveCAverage total cost curve beyond the point where the marginal cost curve cuts it from belowDAverage variable cost curve below the average revenue curve
- A legal minimum price is set which is below the equilibrium price. What will be the impact of this?AExcess of demand over supplyBExcess of supply over demandCNothing
- Which one of the following would cause the supply curve for a good to shift to the right (outwards from the origin)?AA fall in the price of the good BAn increase in the demand for the goodCA fall in production costs of the good DThe imposition of a minimum price
- When the price of a good is held above the equilibrium price, the result will be？AExcess demandBA shortage of the goodCA surplus of the good
- Which one of the following would not lead directly to a shift in the demand curve for overseas holidays?AAn advertising campaign by holiday tour operators BA fall in the disposable incomes of consumersCA rise in the price of domestic holidaysDA rise in the price of overseas holidays
- Which of the following is likely to lead to a fall in the price of good Q which is a normal good?AA rise in the price of good P, a substitute for good QBA fall in the level of household incomes generallyCA fall in the price of good T, a complement to good Q DA belief that the price of good Q is likely to double in the next 3 months
- According to the theory of the firm, which of the following statements describes an oligopoly?AThere are no barriers to entry into or exit from the marketBThere is only one producer in the marketCThere are four producers exerting considerable influence in the market DThere are many producers but they each use product differentiation to distinguish themselves from each other
- Which of the following is not a substitute for carpets?ACeramic floor tilesBWooden floorboard CCarpet underlay
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