Term the written order which directs that a specified sum of money be paid to a specified person ?
Correct answer: A. Bill of Exchange BE
- A. Bill of Exchange BE
- B. Bill of Lading
- C. Bearer Cheque
- D. None of them
Explanation
A bill of exchange is a written and generally unconditional order requiring one party to pay a specified sum to a named person or order. A bill of lading records shipment of goods, while a bearer cheque is a particular type of cheque.
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Individual consumers, firms and markets are examined through demand and supply, elasticity, consumer choice, production, costs, revenue and the determination of prices and output. The topic also covers market structures such as perfect competition, monopoly and oligopoly, plus market failure, externalities and the distinction between microeconomic decisions and economy-wide outcomes.
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