A Party Who Undertakes to Be Responsible for Another Is

question 14

Multiple Choice

A party who undertakes to be responsible for another is a .

• A)guarantor
• B)creditor
• C)principal
• D)debtor

---

Definitions:

Necessity

A requirement or an indispensable item essential for survival or the functioning of a system.

Price of the Product

The financial cost of acquiring a good or service.

Buyer's Income

Buyer's Income is the total earnings or revenue available to consumers that influences their ability to purchase goods and services.

Burden of a Tax

The economic impact of a tax on the welfare of buyers and sellers, which can affect market behavior and economic efficiency.