Demand Is the

question 414

Multiple Choice

Demand is the

• A) ability to pay for a good.
• B) entire relationship between the quantity demanded and the price of a good.
• C) unlimited wants of consumers.
• D) willingness to pay for a good if income is large enough.

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Definitions:

Breach of Contract

Failure to perform any term of a contract, written or oral, without a legitimate legal excuse.

Reject the Offer

The act of declining a proposal or bid, potentially in negotiations, contracts, or transactions.

Accept the Offer

Agreeing to the terms or conditions presented in an offer, thereby entering into a binding contract.

Contractual Capacity

The threshold mental capacity required by law for a party who enters into a contract to be bound by that contract.