Flo Tells Gregor That She Will Buy His Textbook from Last

question 56

Multiple Choice

Flo tells Gregor that she will buy his textbook from last semester for $65. Gregor agrees. Flo and Gregor have

• A) an executed contract.
• B) an express contract.
• C) an implied-in-fact contract.
• D) no contract.

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Definitions:

Recessionary Period

A phase in the economic cycle where there is a slowdown in economic activity, marked by reduced spending and increased unemployment.

Employee Layoffs

The act of temporarily or permanently terminating a group of employees from their jobs, often due to economic downturns, business restructuring, or organizational changes.

Inputs

The resources, materials, and effort required to produce goods or services in any organizational or production process.

Outputs

The results or products that come from the process of inputting resources like labor and capital into a production or activity system.