Which of the Following Is an Example of a Social

question 538

Multiple Choice

Which of the following is an example of a social environment?

• A)a parade
• B)a beach
• C)a city
• D)none of these

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Definitions:

Agency Agreement

A contract where one party (the agent) agrees to act on behalf of another party (the principal) in commercial transactions.

Principal

The amount of money originally invested or loaned, in contrast to interest or profit earned on that amount.

Partially Disclosed

Pertains to transactions or agreements where some but not all relevant information is revealed to one or more parties involved.

Apparent Authority

The situation in which an agent's actions lead a third party to reasonably believe that the agent has the authority to act on behalf of the principal.