Which of the Following Is True of a Firm Offer

question 46

Multiple Choice

Which of the following is true of a firm offer?

• A)It occurs when parties intend to be bound by a contract,but fail to mention the price.
• B)It occurs when a seller agrees to sell all it can produce to a particular buyer.
• C)It occurs when a merchant promises to hold an offer open without any consideration.
• D)It occurs when a buyer agrees to buy all its requirements from a particular seller.

Analyze the role and efficiency of capital markets in allocating resources and funding projects.

Identify factors that contribute to economic profit and distinguish it from other forms of profit.

Assess the impact of government vs. market allocation of investment funds on economic growth.

Understand the concepts of human and physical capital and their implications for income generation.

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Definitions:

Implied Consent

A form of consent that is not expressly granted by a person, but rather inferred from a person’s actions and the facts and circumstances of a particular situation (or in some cases by a person’s silence or inaction).

Age of Majority

The legal age at which an individual is considered an adult and capable of making their own decisions and responsibilities.

Federal Prison

A detention facility operated by the federal government to incarcerate individuals convicted of federal crimes.

Criminal Act

An action that violates the law and is subject to prosecution and punishment.