Distinguish Between: A. Express and Implied Contracts

question 72

Essay

Distinguish between:
a. express and implied contracts
b. executed and executory contracts
c. bilateral and unilateral contracts.

Identify examples of fixed and variable costs in a business context.

Understand the relevance of unit variable cost in product pricing.

Assess the impact of cost structures on the financial health of a business.

Understand the role and function of DNS servers in translating domain names into IP addresses.

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Definitions:

Wear Out

The phenomenon where repeated exposure to the same advertisement or message leads to decreased consumer response or interest over time.

Influential People

Individuals who have the power to affect the decisions of others due to their authority, knowledge, position, or relationship.

Reality Engineering

refers to the process of influencing or shaping perceptions of reality, often through media, technology, or psychological means.

Promotional Strategies

Marketing efforts designed to communicate the value of a product or service to potential customers in order to increase sales.