An Offer Need Not Take Any Particular Form to Have

question 71

Multiple Choice

An offer need not take any particular form to have legal validity.To be effective,however,it must:

• A) be spoken directly to the offeree.
• B) always contain the price of the product or service offered.
• C) always contain the place of delivery.
• D) be communicated to the offeree.

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Definitions:

CDs

Certificates of Deposit, savings certificates with a fixed maturity date and specified fixed interest rate, offering a low-risk investment option.

Quantity Demanded

Refers to the total amount of a good or service that consumers are willing and able to purchase at a given price in a specified time period.

Demand

Demand in economics is defined as consumers' willingness and ability to purchase goods or services at a given price over a specific period of time.

Normal Goods

Goods for which demand increases as consumer income rises, and decreases when consumer income falls.