A Util

question 83

Multiple Choice

A util:

• A) can measure satisfaction with factual accuracy.
• B) is not a valid concept.
• C) applies to a good but not to a service.
• D) is purely a fictitious measure of the satisfaction a consumer derives from a product.
• E) can be used in place of money in some countries.

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Definitions:

Conditional Contract

A contract that becomes enforceable only on the happening or termination of a specified condition.

Abandoned Property

Property that has been discarded by the owner, who has relinquished all rights, claims, and interests in it without the intention of reclaiming it.

Title To Property

Legal rights that prove ownership or possession of a specific piece of property, either real estate or personal property.

Bailed Property

Property given to someone for temporary safekeeping under a bailment agreement.