Consideration Is an Element of Contract Law That Refers to _____

question 20

Multiple Choice

Consideration is an element of contract law that refers to _____.

• A) business etiquette
• B) exchange from one party in return for performing contractual obligations
• C) one party's agreement to a promise
• D) an entity's decision to enter into a contract

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Definitions:

Foreign Competition

The competitive pressure that domestic companies face from international firms in either domestic or global markets.

Macroeconomist

An economist who specializes in macroeconomics, the branch of economics dealing with the performance, structure, behavior, and decision-making of an economy as a whole.

Normative Statement

Statements that express an opinion or a value judgment, often involving what ought to be rather than what is.

Normative Statement

A statement that expresses a value judgment about whether a situation is desirable or undesirable; it looks at the world as it "should" be.