In a Unilateral Contract,a Promise Is Exchanged for an Act

question 64

True/False

In a unilateral contract,a promise is exchanged for an act or forbearance to act.

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Definitions:

Normal Good

A good, such as new clothes, for which demand increases, or shifts rightward, as consumer income rises.

Backpacks

Backpacks are portable bags carried on one's back, secured with two straps over the shoulders, commonly used for transporting items.

Demand Curve

A graphical representation showing the relationship between the price of a good and the quantity demanded by consumers.

Shift

In economic contexts, this term often refers to a movement or change in the position of a supply or demand curve in response to various factors.