A(n) ________ Is a Favorable Set of Circumstances That Creates

question 38

Multiple Choice

A(n) ________ is a favorable set of circumstances that creates a need for a new product, service, or business.

• A) idea
• B) scheme
• C) design
• D) proposal
• E) opportunity

Understand the impact of biases and heuristics on decision-making.

Grasp the concept of loss aversion and related cognitive biases.

Understand the role of legislation in addressing environmental issues.

Recognize sustainable building and urban development practices.

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Definitions:

Express Authority

Actual authority that the principal has manifested to the agent in very specific or detailed language.

Implied Authority

Actual authority given to an agent to bind his or her principals and to act in a way that the agent reasonably believes is necessary to perform his or her duties.

Indemnify

To reimburse or promise to reimburse another from loss. To act as security or protection against a loss.

Special Agent

An agent that is employed to conduct a single transaction or a small, simple group of transactions.