Which of the Following Would Always Be Considered to Be

question 45

Multiple Choice

Which of the following would always be considered to be contrary to public policy?

• A) A contract which contains a covenant not to compete
• B) A contract offered on a take-it-or-leave-it basis
• C) An agreement to pay someone to make false,negative statements about a competitor's product
• D) An agreement which contains an exculpatory clause

Grasp the concept of optimal consumer choice and how it is determined on a graph.

Recognize the relationship between goods' characteristics (inferior, normal, substitutes, complements) and consumer choice behavior under income changes.

Understand the income and substitution effects of price changes on consumer choice.

Learn how the theory of consumer choice demonstrates key economic principles such as trade-offs.

---

Definitions:

Fiscal Year

A one-year period chosen by a business for financial reporting and taxation purposes, which may not coincide with the calendar year.

Accounting Period

A specific time period for which financial information is reported, commonly a year or a quarter.

Calendar Year

A period of time that starts on January 1 and ends on December 31, used for accounting and official purposes.

Debit Part

The left side of an accounting entry, which increases assets and expenses and decreases liabilities and equity.