The Answer to the Question "What Is Your Favorite Color

question 48

True/False

The answer to the question "What is your favorite color?" is an example of an ordinal scaled variable.

---

Definitions:

Fair Bargain

An agreement between parties that is equitable and just, where each party receives a benefit in exchange for what is given.

Enforce Promises

The legal ability to ensure that agreements or commitments are carried out, often through contract law.

Adequacy Of Consideration

Evaluation of whether the value exchanged in a contract is fair and sufficient, although the law often requires only some value to be exchanged.

Electronic Commerce Legislation

Laws and regulations that govern online business transactions.