Which of the Following Is Not Necessary in Order for the Implied

question 107

Multiple Choice

Which of the following is not necessary in order for the implied warranty of fitness for a particular purpose to apply to a sale of goods?

• A) The seller knows or has reason to know of the buyer's intended use of the good.
• B) The seller is a merchant.
• C) The seller states that the goods will serve the purpose of the buyer's intended use.
• D) The buyer relies on the seller's skill and judgment.
• E) The goods are purchased.

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Definitions:

Labor Demand Data

Statistical information that reflects the amount of labor that employers are willing and able to hire at different wage rates.

Labor Market

The marketplace where labor services are bought and sold, involving employers seeking to hire and workers seeking employment.

Monopsonistic

A market situation where there is only one buyer for many sellers, giving the buyer significant power over prices and terms.

Long-Run Trend

A sustained movement in data over a long period, often used in the context of economic performance or growth rates.