Whether a Contract Is Unilateral or Bilateral Depends on the

question 44

Multiple Choice

Whether a contract is unilateral or bilateral depends on the

• A) offeree.
• B) performance required of the offeror.
• C) type of acceptance required of the offeree by the offeror.
• D) type of acceptance required of the offeror by the offeree.

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Definitions:

Absolute Advantage

The ability of an individual, firm, or country to produce more of a good or service with the same amount of resources compared to others.

Absolute Advantage

The capacity of a person, company, or nation to generate a greater quantity of a product or service using an identical quantity of inputs as compared to competitors.

Broccoli

A green plant from the cabbage family, known for its nutritional benefits and widely consumed as a vegetable.

Opportunity Cost

The cost attached to not opting for the immediately lesser favorable choice when making a decision.