Examlex
An item whose demand rises as people's incomes fall is known as a(n) _____ good.
Merchantability
A warranty implied by law that goods sold by a merchant are fit for the general purpose for which they are sold.
Remedy Limitation
Restrictions or caps placed on the type or amount of compensation that can be received in a legal claim or lawsuit.
Unconscionable
A term describing actions or terms that are so unjust or overwhelmingly one-sided in favor of the party who has the superior bargaining power.
Express Warranty
An explicit guarantee by the seller about the condition or quality of a product.
Q46: Which circumstance will NOT decrease the supply
Q59: The payment toward land is called<br>A) rent.<br>B)
Q80: (Figure: Interpreting Supply Shifts 3) When the
Q109: Labor and entrepreneurial ability are the principal
Q157: A firm will MOST likely decrease the
Q202: The income approach to calculating GDP includes
Q256: (Figure: Determining Surplus) In the graph, what
Q264: Which type of payment would NOT be
Q293: The difference between what the market would
Q325: (Figure: Determining Surplus and Loss) In the