A Decrease in the Price of a Good Will

question 41

Multiple Choice

A decrease in the price of a good will

• A)increase demand.
• B)decrease demand.
• C)increase quantity demanded.
• D)decrease quantity demanded.

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Definitions:

Assignment Form

A legal document used to transfer rights or interests from one party to another.

Privity of Contract

The principle that a contract is a private agreement between the contracting parties only, and as such, only these parties have rights and obligations under the contract.

Incidental Beneficiary

One who unintentionally gains a benefit from a contract between other parties.

Donee Beneficiary

A third party who benefits from a contract in which a promisor agrees to give a gift to the third party.