According to the Application in Chapter 2, Many Video Game

question 50

Multiple Choice

According to the Application in Chapter 2, many video game makers in the early 1980s went out of business because:

• A) a large increase in the supply of games lowered the price of video games so much that it made them unprofitable.
• B) a large decrease in the supply of games raised the price of video games so much that consumers stopped buying them.
• C) a large decrease in consumer demand lowered the price of video games so much that it made them unprofitable.
• D) a large increase in consumer demand raised the price of video games to the point that they were no longer affordable.

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Definitions:

Seller Transfers

The act of a seller handing over the rights, responsibilities, and ownership of products or property to the buyer.

Merchant

An individual or company engaged in the business of selling goods or services in the marketplace.

Ordinary Course of Business

Regular and routine operations of a company, including transactions and activities that are normal for the business.

Acceptance Effective

The point in time when an agreement to the terms of an offer is communicated by the offeree to the offeror, resulting in a legally binding contract.