In Which of the Following,does the Buyer Usually Try Out

question 78

Multiple Choice

In which of the following,does the buyer usually try out the goods for the buyer's own use?

• A) sale on approval
• B) sale or return
• C) consignment and sale or return
• D) consignment,sale or return,and sale on approval
• E) sale or return and sale on approval

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Definitions:

Above-Equilibrium Wage

A wage rate higher than the market equilibrium wage, which can lead to unemployment due to the excess supply of labor.

Minimum-Wage Laws

Legislation that sets the lowest hourly rate that employers are allowed to pay their workers.

Unions

Organizations formed by workers from related sectors to negotiate collectively with employers over wages, benefits, and working conditions.

Efficiency Wages

Above-equilibrium wages paid by firms to increase worker productivity.