On June 1 George Goes to Harry's Fruit Store,and While

question 49

Multiple Choice

On June 1 George goes to Harry's fruit store,and while he is there,Harry offers to sell George 100 bushels of grapes that have just been delivered to his store for $20.00 per bushel.Harry also tells George that he should not wait too long to accept Harry's offer,because the best time to sell grapes is within three to four days of delivery.George simply says,"Let me think about it and I'll get back to you before the end of the day." However,George does not return that day; instead,he comes back seven days later to tell Harry that he accepts the offer.Harry replies,"You're much too late,I sold the grapes to Mr.Smith on June 5." In this situation

• A)George's statement "Let me think about it and I'll get back to you before the end of the day" is a counter-offer.
• B)Harry's offer has lapsed given the perishable nature of the grapes.
• C)Harry was wrong in selling the grapes to Mr.Smith.
• D)Harry must keep his offer open until George accepts it.
• E)Harry's offer has been withdrawn.

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Definitions:

"In" and "Out" Groups

Social categorizations within teams or organizations where members are either included within a preferred group ("in") or excluded ("out").

Vertical Layers

Layers within an organization that represent different levels of authority and responsibility, from top-level management to frontline workers.

Functional Structures

refers to an organizational layout where departments are grouped based on specialized functions such as marketing, finance, and production.

Cost Containment

Strategies and measures implemented by an organization to control or reduce its expenses, aiming to improve its financial efficiency.