The Way Parties Usually Show Mutual Assent Is By

question 69

Multiple Choice

The way parties usually show mutual assent is by:

• A) an offer by words or conduct and an acceptance by words or conduct.
• B) a proposal in words and an acceptance in words.
• C) an act exchanged for an act.
• D) an offer and a counteroffer.

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Definitions:

Cross Elasticity of Demand

A measure of the responsiveness of demand for a good to a change in the price of another good, showing the degree of substitutability or complementarity between them.

Positive

Characterized by or displaying affirmation, constructive attributes, or optimism; also in economics, indicating numbers or conditions above zero or in surplus.

Complementary Goods

Products or services that are typically consumed together, as the consumption of one enhances the value or desire for the other.

Normal Good

A category of product that sees a rise in demand when consumer incomes go up, and a decrease when incomes fall.