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Latest notes & summaries Clemson University
LAW 3220 Clemson Exam 2 
Offeror - Answer ️️ -the party making the offer 
Offeree - Answer ️️ -the party to whom the offer is made 
Elements needed to form a contract - Answer ️️ -1. Mutual Assent (offer and acceptance) 
2. Consideration 
3. Capacity 
4. Legality 
Mutual Assent - Answer ️️ -The broad underlying requirement that the parties must reach an 
agreement using a combination of offer and acceptance and that the assent must be genuine. 
Offer - Answer ️️ -A promise or...
ECON 2110 - Clemson: Exam 1 Questions and Answers 2023 with complete solution 
 
 
Absolute Advantage 
The ability to produce a good using fewer inputs than another producer. 
Comparative Advantage 
The ability to produce a good at a lower opportunity cost than another producer. 
Possible 
It is ( possible/impossible ) for a country to have an absolute advantage in both goods. 
Impossible 
It is ( possible/impossible ) for a country to have a comparative advantage in both goods. 
The inverse of ...
Clemson University FIN 4110 Exam 1 with complete solution 
 
3 Functions of Money 
1. Medium of exchange 
2. Unit of account 
3. Store of value 
Multinational Corporation 
a company with production and distribution facilities in more than 1 country 
Reasons to globalize 
find new markets; lower costs; utilize different resources/materials 
Raw Material Seekers 
the earliest multinationals; exploit markets in other countries 
Market Seekers 
produce and sell in foreign markets (ex. IBM, McDonald...
Clemson University FIN 4110 Exam 1 with complete solution 
 
3 Functions of Money 
1. Medium of exchange 
2. Unit of account 
3. Store of value 
Multinational Corporation 
a company with production and distribution facilities in more than 1 country 
Reasons to globalize 
find new markets; lower costs; utilize different resources/materials 
Raw Material Seekers 
the earliest multinationals; exploit markets in other countries 
Market Seekers 
produce and sell in foreign markets (ex. IBM, McDonald...
ECON 2110 - Clemson: Exam 1 Questions and Answers 2023 with complete solution 
 
 
Absolute Advantage 
The ability to produce a good using fewer inputs than another producer. 
Comparative Advantage 
The ability to produce a good at a lower opportunity cost than another producer. 
Possible 
It is ( possible/impossible ) for a country to have an absolute advantage in both goods. 
Impossible 
It is ( possible/impossible ) for a country to have a comparative advantage in both goods. 
The inverse of ...
CHAPTER 12 
1. 
(p. 280) ________ refers to the point at which an employee becomes fully entitled to a 
benefit. 
Vesting 
2. 
(p. 288) Employers are increasingly employing elaborate employee monitoring measures 
primarily to limit their risk of ________ liability in areas such as defamation and employment 
discrimination. 
Vicarious 
 3. 
(p. 292) If an employee in a unionized company believes that the employer is violating the 
collective bargaining agreement, he or she may file a ________ and...
CHAPTER 12 
1. 
(p. 280) ________ refers to the point at which an employee becomes fully entitled to a 
benefit. 
Vesting 
2. 
(p. 288) Employers are increasingly employing elaborate employee monitoring measures 
primarily to limit their risk of ________ liability in areas such as defamation and employment 
discrimination. 
Vicarious 
 3. 
(p. 292) If an employee in a unionized company believes that the employer is violating the 
collective bargaining agreement, he or she may file a ________ and...
POSC 1010 Final Exam 2024 
In the Heart of Atlanta Motel v. U.S. and Katzenbach V. McClung cases what clause was applied 
to say that the civil rights act of 1964 was constitutional - Answer ️️ -Commerce Clause 
The Greek philosopher Plato argued that society should be ruled by philosopher kings because 
they were the ones best qualified to make the hard decisions required for the greater good. This is 
an example of - Answer ️️ -Elitism 
The U.S. economy is a - Answer ️️ -mixed econ...
LAW 3220 Clemson Exam 2 
Offeror - Answer ️️ -the party making the offer 
Offeree - Answer ️️ -the party to whom the offer is made 
Elements needed to form a contract - Answer ️️ -1. Mutual Assent (offer and acceptance) 
2. Consideration 
3. Capacity 
4. Legality 
Mutual Assent - Answer ️️ -The broad underlying requirement that the parties must reach an 
agreement using a combination of offer and acceptance and that the assent must be genuine. 
Offer - Answer ️️ -A promise or...