All Oral Contracts Are Quasi-Contracts Until They Are Completely Executed

question 23

True/False

All oral contracts are quasi-contracts until they are completely executed.

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Definitions:

Budget Constraint

A representation of all the combinations of goods and services that a consumer can afford with a fixed income and prices.

Indifference Curve

A graph representing different bundles of goods between which a consumer is indifferent, showing combinations that give the consumer the same level of satisfaction.

Income

The amount of money or its equivalent received during a period of time in exchange for labor, goods, or services, or as profit on capital.

Indifference Curves

Graphical representations in economics showing combinations of goods among which a consumer is indifferent, helping to analyze consumer choices.