Which of the following is true about specific performance?
a. It is an amount paid by a breaching party to the suffering party to cover the latter's loss.
b. It arises in situations which involve written promises.
c. It is usually ordered by the court when the economic value of the transaction is difficult to quantify.
d. It is common in case of contracts having a negative influence on the society as a whole.
Question 2
The fundamental economic problem faced by individuals is
A) scarcity.
B) comparative advantage.
C) fair allocations of goods and services.
D) randomness in the distribution of income.
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