Simone Offers Thom a Dozen Piano Lessons for a Certain

question 6

Multiple Choice

Simone offers Thom a dozen piano lessons for a certain price per lesson but conditions the deal on Thom accepting the offer by April 1. Simone may revoke the offer

• A) ​before Thom accepts the offer.
• B) ​before April 1, whether or not Thom has accepted the offer.
• C) ​only after Thom accepts the offer.
• D) ​only after April 1.

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Definitions:

Household

A social unit of people living together, typically characterized by common residence, economic cooperation, and often familial ties.

Business

An organization or economic system where goods and services are exchanged for one another or for money.

Goods and Services

The tangible products (goods) and intangible activities (services) that fulfill the needs or wants of consumers.

Factor Market

A marketplace where factors of production (e.g., labor, capital) are bought and sold.