Which of the Following Statements About a Market Is True

question 24

Multiple Choice

Which of the following statements about a market is true?

• A) It is not necessary for the market to have a physical location.
• B) The market does not necessarily own the goods or services involved.
• C) A market can deal in any variety of goods and services.
• D) All of the above
• E) None of the above

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Definitions:

Procedural Unconscionability

A situation where the terms of a contract are unfair or oppressive because of the process involved in the agreement formation, including lack of negotiation power or misleading terms.

Fine Print

Small, difficult to read text in contracts or advertisements that often contains important information about limitations, exclusions, or conditions.

Legislative Rules

Regulations and guidelines established by legislatures that govern the process and conduct of legislative bodies.

Public Policy

Principles and standards deemed by the judiciary to be of fundamental concern to the state and the whole of society.