When a Contract Is Fully Performed by One Party, It

question 25

True/False

When a contract is fully performed by one party, it is called a unilateral contract.

---

Definitions:

Expected Profit

The forecasted amount of profit calculated by multiplying potential outcomes by their probabilities of occurrence.

Expected Profit

The anticipated financial return from an investment or business activity, considering potential risks and earnings.

Optimal Quantity

The most favorable amount of goods or services, determined through analysis, to meet specific objectives like minimizing costs or maximizing profit.

Surplus Inventory

Inventory exceeding the current demand, leading to excess stock that may require special handling or discounting.