When Making a Purchase, Modern Consumers Are More Likely to

question 56

Multiple Choice

When making a purchase, modern consumers are more likely to

• A) shop at a physical store.
• B) use a single information channel.
• C) know little about the product or service.
• D) know just as much about the product or service as the sales staff.
• E) require more help making a purchase decision.

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Definitions:

Oral Contract

A verbal agreement between parties that is legally binding.

Statute of Frauds

A rule in law that mandates specific contract types must be written and signed to be legally binding.

Statute of Frauds

A legal principle that requires certain types of contracts to be in writing and signed by the party to be charged, to be enforceable.

Unilateral Contract

An agreement where only one party makes a promise to perform in exchange for an act by the other party, who is not legally obligated to act.