The Definition "'Contract' Means an Agreement Enforceable by Law" Is

question 33

Multiple Choice

The definition "'Contract' means an agreement enforceable by law" is an example of:

• A) A precising definition.
• B) A theoretical definition.
• C) A definition by genus and difference.
• D) A definition by subclass.
• E) An etymological definition.

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Definitions:

Economic Models

Simplified representations of complex economic processes used to predict future economic activity.

Simplifying Assumptions

Rational approximations or conditions made to simplify complex systems or models so that they are easier to analyze or understand.

Economic Events

Incidents or developments that affect the economy, such as financial crises, market movements, or policy changes.

Economic Theories

A set of principles that explain how economies function, including the distribution of resources, and the production and consumption of goods and services.