What Is a Moderately Expensive,infrequently Purchased Good or Service Called

question 269

Multiple Choice

What is a moderately expensive,infrequently purchased good or service called?

• A)Impulse good
• B)Convenience good
• C)Occasional good
• D)Shopping good
• E)Luxury good

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Definitions:

Indorsed

The act of signing one's name on the back of a check or other negotiable instrument for the purpose of transferring rights or entitlements.

Ratification

The formal approval of an agreement, treaty, or act, making it officially valid.

Promissory Note

A written promise to pay a specified amount of money to a person or entity under agreed conditions.

Holder in Due Course

A legal term referring to a person who has received a negotiable instrument in good faith and for value, thereby having certain protections against defects in the instrument's title.