When Brad Heard, "There Is No Waiting in Checkout Lines

question 117

Multiple Choice

When Brad heard, "There is no waiting in checkout lines 2, 4, and 5," he knew that the supermarket had:

• A)intangibility.
• B)static demand.
• C)off-peak convenience.
• D)idle production capacity.

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Definitions:

Guarantor

A party that agrees to be responsible for the debt or obligation of another if the original obligor fails to meet their obligations.

Statute of Frauds

A legal principle that requires certain types of contracts to be executed in writing and signed by the party to be charged.

Deed of Trust

A legal document in some states that involves a borrower, lender, and a trustee, securing a real estate transaction as collateral for a loan.

Surety

A person or entity that takes responsibility for the performance of another's obligations, such as fulfilling the terms of a contract or repaying a loan.