Which of the Following Is One of the Requirements Necessary

question 10

Multiple Choice

Which of the following is one of the requirements necessary to establish promissory estoppel?

• A)The promisor makes a vague promise to waive some contractual obligations.
• B)The promisee disregards the promise.
• C)It would be unconscionable (unfair) for the promisor to break the promise.
• D)The promise is in writing.

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Definitions:

American Economy

The economic system of the United States, characterized by a mixed economy with private freedom combined with centralized economic planning and government regulation.

Maximum Possible Output

The highest amount of goods or services an economy can produce when it is utilizing all of its resources efficiently.

Economic Growth

An increase in the production of goods and services over a specific period, often measured by GDP.

Production

The process of creating goods and services through the combination of labor, materials, and capital.