A Standing Offer Is

question 47

Multiple Choice

A standing offer is

• A) one that can be revoked even after acceptance.
• B) an offer that is made and withdrawn before it is accepted.
• C) one that is said to stand because it is fixed and cannot be changed.
• D) one that may be accepted from time to time as needed.
• E) one that cannot be revoked after acceptance without the consent of the offeree.

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Definitions:

Import Quota

A governmental limit on the quantity of a certain type of good that can be imported into a country, used to protect domestic industries.

Trade Protection

Measures implemented by countries to protect their domestic industries from foreign competition, such as tariffs and quotas.

Wealth Transfer

The movement of assets from one party to another, often due to inheritance, gifts, or legal mechanisms like trusts and estates.

Domestic Producers

Refers to individuals or companies that manufacture goods or offer services within their own country.