Which of the Following Is Not Valid Consideration

question 63

Multiple Choice

Which of the following is not valid consideration?

• A)The payment of money
• B)The provision of goods
• C)Undertaking an onerous obligation
• D)A vague promise

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Definitions:

Aggregate Consumption

The total amount of goods and services consumed in an economy over a specific period.

Consumption Function

A relationship in economic terms between the gross national income and the aggregate consumption level.

Aggregate Income

The total income earned by all factors of production in an economy, including wages, rents, interest, and profits, over a specific period.

Aggregate Consumption

The total spending by households on goods and services within an economy during a specific period.