Ashipment of goods designated f. o.b. lexington arrives in lexington at 5: 45 p. m. the freight terminal in lexington calls the lexington buyer and informs the buyer that the shipment is ready to be picked up and that the freight terminal closes at 6: 00 p. m. the buyer is unable to reach the terminal and load the goods before 6: 00 p. m. and decides to pick up the goods the next day. at 9: 00 p. m. on the same day the freight terminal burns and the goods are destroyed. what party or parties has/have the risk of loss?

1   all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know

i would say their habit of breaking down.

answer; ///blank(1); dealers; blank(2); brokers;

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