Identify the Correct Statement(s) About Markets

question 48

Multiple Choice

Identify the correct statement(s) about markets.

• A)Markets can be local.
• B)Markets can be national.
• C)Markets can be international.
• D)All of the choices are correct.

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Definitions:

Consideration

In contract law, something of value exchanged between parties that is necessary for a valid contract.

Offeror's Death

refers to the termination of an offer in contract law due to the death of the person making the offer before it is accepted.

Automatically Terminates

A clause in an agreement that causes the contract to end without the need for notice, upon the occurrence of specific conditions.

Contract Formation

The process by which parties reach an agreement on the terms of a contract, creating mutual obligations enforceable by law.