The Bargaining Power of Suppliers Increases Under All of the Following

question 2

Multiple Choice

The bargaining power of suppliers increases under all of the following conditions except:

• A)if the cost of switching suppliers is high
• B)if prices of substitutes are high
• C)if suppliers can realistically threaten backward integration
• D)if the supplier's product is a large part of the buyer's value added

Recognize the legal concepts of ratification and disaffirmation of contracts by minors.

Identify the legal repercussions of intoxication and mental impairment on contractual capacity.

Understand the concept of emancipation and its impact on a minor’s capacity to contract.

Comprehend the role of necessaries in contracts with minors.

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Definitions:

Jansenists

Members of a Catholic reform movement originating in the 17th century, emphasizing original sin, human depravity, the necessity of divine grace, and predestination.

Louis XIV

The King of France from 1643 until his death in 1715, known for his absolute monarchy and the extensive building of the Palace of Versailles.

One Faith

The concept of a single, unified religion or belief system that all members of a society adhere to.

Fronde

A series of civil wars in France between 1648 and 1653, characterized by complex alliances among the nobility, the parliament, and the French people, largely in opposition to royal absolutism and the growing centralization of power.